Concho, OK – The Cheyenne and Arapaho Tribes have received more than $15 Million from Chesapeake Energy Corporation as part of a mutual resolution of severance taxes.
“The funds came at a very opportune time for our tribal members,” said Governor Janice Prairie Chief-Boswell. “We are very appreciative to Chesapeake for working with us on this matter. The prompt response has enabled us to expedite putting the funds to work for the benefit of our Tribes. We are now able to resume full operations and restore jobs.”
A Cheyenne and Arapaho tribal member’s company discovered severance taxes due on several leases held by the Tribes had not been paid. Once the matter surfaced, Chesapeake and tribal officials worked to resolve the matter.Once the amount was determined, Chesapeake paid the severance tax of $15,570,288.90 which included penalties and interest.
In accordance with the Cheyenne and Arapaho General Revenue and Taxation Act of 1988, use of Tax Revenue will be appropriated, but not limited to, the following services:
· Police and fire protection
· Establishment of tribal courts
· Road construction, repair and maintenance
· Water, sewage and garbage disposal
· Education of children
· Public health
· Industrial assistance and advancement and development of tribal enterprises to address chronic unemployment and chronic poverty among tribal members
· Public recreation
· Acquisition of land and general administration of Indian property
· Other essential tribal services
The severance tax monies are not eligible for per cap payments.
Fri, October 26, 2012
by Jim Graves