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California Tribes Remit $25.2 Million

5 January 2006

CALIFORNIA – As reported by the American Chronicle: "The five California Indian tribes with gaming compacts amended in 2004 have remitted $25.2 million to the state as their quarterly payment to finance a transportation construction bond.

"The January 2 payments by the tribes, all members of the California Tribal Business Alliance, bring the total of their payments to the state to more than $159 million since the compact amendments took effect.

"The California Tribal Business Alliance members make more payments to the state than the combined total of all other 56 California tribes with casinos.

"…It is the state's intent to use the tribes' collective annual bond payments of $100.8 million to sell a revenue bond of approximately $1 billion to relieve the state's general fund debt to the Traffic Relief Congestion Fund and the Transportation Deferred Investment Fund and to provide funding for some 143 stalled highway and public transit projects…"

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