All of the assets acquired by TFE and any of its business ventures shall belong to TFE as a Tribal enterprise operated by and for the benefit of the Tulalip Indian Tribes; provided, however, that title to real property and property which is to become a part of the land will be taken in the name of the United States in trust for the Tulalip Indian Tribes. In the event of dissolution, title to all assets of TFE shall revert directly to the Tribes.
(Ord. 66 § 6.1, 5-10-1986 (Res. 86-0280))
The TFE Board shall establish a reserve fund and shall set aside such portion of annual net earning of TFE as it deems necessary to this reserve. This reserve shall be used to meet contingencies, for maintaining any property of TFE, or as capital for expansion of existing enterprises or additional enterprises under the terms of this chapter. The balance of annual net earnings shall be credited to a “surplus account.”
(Ord. 66 § 6.2, 5-10-1986 (Res. 86-0280))
Funds from the surplus account shall be transferred from the accounts of TFE to the General Fund of the Tulalip Indian Tribes within a reasonable time after the close of the fiscal year of TFE. Such profits shall be in addition to and computed after payment of any applicable taxes or fees.
(Ord. 66 § 6.3, 5-10-1986 (Res. 86-0280))