WASHINGTON — The Treasury Department yesterday announced that it had allocated the second and final $1 billion tranche of tribal economic development bonds to 76 Indian tribes across the nation.

American Recovery and Reinvestment Act provisions enable tribal governments to issue either tax-exempt or Build America Bonds for any project a state or local government could finance with bonds. Tribal governments had to submit applications to the Internal Revenue Service to request an allocation of the bonds. Each application had to describe the project, financing plan, and timeframe for completion.

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