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A. Expenditures out of the Restricted Real Property Repurchase Fund shall be limited to:

1. Purchases of restricted real property or fractional interests identified through notice by the Bureau of Indian Affairs at or below one hundred thirty-five percent (135%) of appraised value;

2. Abstracting, surveys, appraisals, closing costs, and any restricted real property purchase costs related thereto; and

3. Environmental studies required by the state or federal government.

B. Expenditures out of the Restricted Real Property Repurchase Fund must be preceded by a written purchase contract executed in the name of the Osage Nation by the Principal Chief. ONCA 11-67, eff. Oct. 11, 2011; ONCA 19-02, eff. Nov. 7, 2018.