[Federal Register Volume 78, Number 49 (Wednesday, March 13, 2013)]
[Notices]
[Pages 15969-15970]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-05810]


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DEPARTMENT OF THE INTERIOR

Office of the Secretary


Request for Nominations to Serve on Board of Trustees for the 
Cobell Education Scholarship Fund

AGENCY: Office of the Secretary, Interior.

ACTION: Notice of request for nominations.

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SUMMARY: Pursuant to the Claims Resolution Act of 2010, Public Law 111-
291, 124 Stat. 3064, and the Class Action Settlement Agreement 
(``Agreement''), Cobell v. Salazar, the Secretary of the Interior 
requests nominations of candidates to serve on the Board of Trustees 
(``Board'') for the Cobell Education Scholarship Fund. The Board serves 
as an oversight body to the non-profit organization and must consist of 
no more than five members that will include two representatives 
selected by the Secretary and two representatives selected by the 
Plaintiff, and one representative selected by the non-profit 
organization. The Secretary will consider nominations received in 
response to this Request for Nominations. The SUPPLEMENTARY INFORMATION 
section of this notice provides additional information.

DATE:  Nominations must be received on or before April 12, 2013.

ADDRESSES: Please submit nominations to Lizzie Marsters, Chief of Staff 
to the Deputy Secretary, Department of the Interior, 1849 C Street NW., 
Room 6118, Washington, DC 20240 or email to [email protected].

FOR FURTHER INFORMATION CONTACT: Lizzie Marsters, Chief of Staff to the 
Deputy Secretary, at [email protected] or call 202-219-7499.

SUPPLEMENTARY INFORMATION: The Board of Trustees for the Cobell 
Education Scholarship Fund is being established to fulfill the 
requirements set forth in the Claims Resolution Act of 2010, Public Law 
111-291, 124 Stat. 3064. Specifically, the Claims Resolution Act of 
2010 states ``the 2 members of the special board of trustees shall be 
selected by the Secretary under paragraph G.3. of the Settlement shall 
be selected only after consultation with, and after considering the 
names of possible candidates timely offered by, federally recognized 
tribes.'' Pursuant to the Agreement, the Secretary is to select one 
non-profit organization among those entities nominated by the 
Plaintiffs to administer the funds provided for in the Agreement for 
the Cobell Education Scholarship Fund and to establish a Scholarship 
Program to provide financial assistance to Native American students to 
defray the cost of attendance at both post-secondary vocational 
certifications and institututions of higher education. The Board shall 
oversee the management of the Cobell Education Scholarship Fund. The 
Cobell Education Scholarship Fund was created as an incentive to 
participate in the Land Buy-Back Program for Indian Nations (Buy-Back 
Program), the $1.9 billion land consolidation program authorized by the 
Claims Resolution Act of 2010. The Buy-Back Program contributes up to 
$60 million of the $1.9 billion to the Cobell Education Scholarship 
Fund based on the dollar amount of land purchased through the Buy-Back 
Program. In addition to the maximum $60 million that can be contributed 
to the Fund, the principal amount of any class member funds in an IIM 
(Individual Indian Monies) account, for which the whereabouts are 
unknown and left unclaimed for five years after Final Approval of the 
Settlement, will be transferred to the organization selected to 
administer the Cobell Education Scholarship Fund and will be governed 
by the Board of Trustees. Similarly, any leftover funds from the 
administration of the Settlement Fund (after all payments under the 
Settlement are made) will be contributed towards the Cobell Education 
Scholarship Fund.
    Objective and Duties. The Board will be responsible for the 
oversight and supervision of the activities of the non-profit 
organization. The duties of the Board include, but are not limited to, 
appointing an auditor to review the finances and procedures of the 
organization, approving policies and objectives regarding the Cobell 
Education Scholarship Fund and Scholarship program, approving an 
investment policy and approving priorities and criteria for awarding 
scholarships. The Board shall develop and adopt a charter outlining the 
Board of Trustees' role and responsibilities overseeing the non-profit 
organization and the administration and management of the Cobell 
Education Scholarship Fund and the Scholarship Program. The Board or 
Trustees shall be empowered by majority vote to remove the funds from 
the selected organization for any

[[Page 15970]]

reason, including mismanagement, and to select a new entity.
    Membership. The members of the board shall serve for an initial 
term of four years and may be reappointed for an unlimited number of 
successive terms. A member may be removed for cause by the appointing 
entity and any vacancy shall be filled in the same manner as the 
original appointment. No member of the Board shall have had any 
contracts to transact business with the non-profit organization within 
a period of two calendar years and will disclose any appearance of a 
conflict of interest. Members will serve without compensation, but will 
be reimbursed for reasonable travel expenses related to the performance 
of their duties as members of the Board.
    Nomination Information. The best boards are a mix of 
characteristics, skills, experiences, and diversity. Individuals who 
are nominated should be prepared to contribute a significant amount of 
time and effort to further the goals of the scholarship fund; should 
have demonstrated notable or significant achievements in business, 
finance, education or public service; should possess the requisite 
intelligence, education and experience to make a significant 
contribution to the Board; have the highest ethical standards, free of 
significant conflicts of interest that might not allow the proper 
execution of the duties of a member of the Board; and have a strong 
commitment to serving the interests of Native American students. Please 
send curriculum vitae, a letter of intent which indicates a willingness 
to serve, and a 250-word statement which supports your candidacy to 
Lizzie Marsters, Chief of Staff to the Deputy Secretary, Department of 
the Interior, 1849 C Street NW., Room 6118, Washington, DC 20240 or 
email to [email protected].

    Dated: March 7, 2013.
David Hayes,
Deputy Secretary.
[FR Doc. 2013-05810 Filed 3-12-13; 8:45 am]
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