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§ 5-106. Restrictions and requirements on real property purchases.
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A. Any purchase of real property from this fund shall be confined to unrestricted real property within Osage County, Oklahoma.

B. All purchases shall be preceded by a written contract establishing the purchase price of the subject property which shall not waive any claim of sovereign immunity.

C. No contract to purchase real property shall be entered into by the Nation if the purchase price exceeds the balance in the Real Property Purchase Fund, except where the Osage Nation enters into an option to purchase real property contract and consideration for the option contract does not exceed Five Thousand Dollars ($5,000.00). Final purchase of any real property under an option contract without a sufficient balance in the Real Property Purchase Fund to pay the purchase price is subject to obtaining an appropriation from the Osage Nation Congress.

D. Any property purchased shall conform to one or more of the following requirements: RESERVED.

E. The Principal Chief or his written designee shall be responsible for representing the Nation in all sales, provided all information concerning all aspects of the sale shall be a matter of public record following the sale, and a monthly report of all properties offered for sale and the price as well as those contracted, set to close, and closed shall be reported in writing to the Osage Nation Congress without request. ONCA 14-58, eff. Apr. 16, 2015.

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