Many Americans are completely unaware of the North American Development Bank (NADB), how they operate, who benefits, and how they’re using taxpayers hard earned cash.
The NADB is what oversees the North American Union (NAU) infrastructure expansion deep into Mexico. It started out by convincing Americans living along the US/Mex border that the purpose was to enhance living conditions along the border, ie – waste water treatment facilities and modern infrastructure.
Immediately after 9/11 the NADB rushed through a host of projects aimed at expanding more than 100 miles into Mexico, at US taxpayer expense. More than $2 billion taxpayer dollars has been spent so far.
Are you beginning to see why the drug trafficking, child prostitution, killing and kidnapping has increased so dramatically on our southern border? These NADB projects are a major reason for the escalation in violence between the Mexican police and (U.S.Fast and Furious) drug dealers.
The North American Development Bank was created by President Bill Clinton in order to “assist development along the Mexican border and show sympathy with the concerns of Hispanic Representatives.” The NADB and its sister institution, the Border Environment Cooperation Commission (BECC), were created under the auspices of the North American Free Trade Agreement (NAFTA) to address “environmental issues” in the U.S.-Mexico border region.
The two institutions initiated operations under the November 1993 Agreement Between the Government of the United States of America and the Government of the United Mexican States Concerning the Border Environment Cooperation Commission(BECC) and a North American Development Bank (the “Charter”).
NADB was established in San Antonio, Texas, and began operations on November 10, 1994, with the initial capital subscriptions of the U.S. and Mexican governments.
In June 2000, the NADB Board of Directors initiated discussions on expanding the Bank’s financing activities to “more effectively serve border needs.” These discussions gave rise to a broad set of reform initiatives, some of which required changes to the original NADB-BECC Charter. Following passage of the necessary U.S. and Mexican legislation, an amended Charter went into force on August 6, 2004.
North American Development Bank is also known as NAD-BANK.
Legalese: Now here’s where things get interesting
22 U.S. Code § 290m – North American Development Bank
(a) Acceptance of membership
The President is hereby authorized to accept membership for the United States in the North American Development Bank
provided for in Chapter II of the “Border Environment Cooperation Agreement.”
(b) Subscription of stock
(1) Subscription authority
(A) In general
The Secretary of the Treasury may subscribe on behalf of the United States up to 150,000 shares of the capital stock of the Bank.
(B) Effectiveness of subscription
Except as provided in paragraph (3), any such subscription shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
(2) Limitations on authorization of appropriations
For payment by the Secretary of the Treasury of the subscription of the United States for shares described in paragraph (1), there are authorized to be appropriated $1,500,000,000 ($225,000,000 of which may be used for paid-in capital and $1,275,000,000 of which may be used for callable capital) without fiscal year limitation.
(3) Funding; limitation on callable capital subscriptions
For fiscal year 1995, the Secretary of the Treasury shall pay to the Bank out of any sums in the Treasury not otherwise appropriated the sum of $56,250,000 for the paid-in portion of the United States share of the capital stock of the Bank, 10 percent of which may be transferred by the Bank to the President pursuant to section 290m–2 of this title to pay for the cost of direct and “guaranteed Federal loans.”
(B) Limitation on callable capital subscriptions
For fiscal year 1995, the Secretary of the Treasury shall subscribe to the callable capital portion of the United States share of the capital stock of the Bank in an amount not to exceed $318,750,000.
(4) Disposition of net income distributed by the facility
Any payment made to the United States by the Bank as a distribution of net income shall be covered into the Treasury as a miscellaneous receipt.
(c) Compensation of Board members
No person shall be entitled to receive any salary or other compensation from the Bank or the United States for services as a Board member.
(d) Applicability of Bretton Woods Agreements Act
The provisions of section 4 of the Bretton Woods Agreements Act [22 U.S.C. – FOREIGN RELATIONS AND INTERCOURSE – 286b] shall apply with respect to the Bank to the same extent as with respect to the International Bank of Reconstruction and Development (World Bank) and the International Monetary Fund.
- CHAPTER 1—DIPLOMATIC AND CONSULAR SERVICE GENERALLY (§§ 1_to_7–135,_136)
- CHAPTER 2—CONSULAR COURTS (§§ 141_to_143–183)
- CHAPTER 3—UNITED STATES COURT FOR CHINA (§§ 191_to_200–202)
- CHAPTER 4—PASSPORTS (§§ 211–223_to_229)
- CHAPTER 5—PRESERVATION OF FRIENDLY FOREIGN RELATIONS GENERALLY (§§ 231,_232–249_to_250f)
- CHAPTER 6—FOREIGN DIPLOMATIC AND CONSULAR OFFICERS (§§ 251–259)
- CHAPTER 7—INTERNATIONAL BUREAUS, CONGRESSES, ETC. (§§ 261–290q)
- CHAPTER 8—FOREIGN SERVICE BUILDINGS (§§ 291–303)
- CHAPTER 9—FOREIGN WARS, WAR MATERIALS, AND NEUTRALITY (§§ 401–465)
- CHAPTER 10—HEMISPHERAL RELATIONS (§§ 501–527)
- CHAPTER 11—FOREIGN AGENTS AND PROPAGANDA (§§ 601–621)
- CHAPTER 12—CLAIMS COMMISSIONS (§ 661_to_672)
- CHAPTER 13—SERVICE COURTS OF FRIENDLY FOREIGN FORCES (§§ 701–706)
- CHAPTER 14—FOREIGN SERVICE (§§ 801–1200_to_1204)
- CHAPTER 14A—FOREIGN SERVICE INFORMATION OFFICERS CORPS (§ 1221_to_1234)
- CHAPTER 15—THE REPUBLIC OF THE PHILIPPINES (§§ 1251_to_1255–1395)
- CHAPTER 16—GREEK AND TURKISH ASSISTANCE (§ 1401_to_1410)
- CHAPTER 17—RELIEF AID TO WAR-DEVASTATED COUNTRIES (§ 1411_to_1417)
- CHAPTER 18—UNITED STATES INFORMATION AND EDUCATIONAL EXCHANGE PROGRAMS (§§ 1431–1480)
- CHAPTER 19—FOREIGN ASSISTANCE PROGRAM (§§ 1501,_1502–1558_to_1558h)
- CHAPTER 20—MUTUAL DEFENSE ASSISTANCE PROGRAM (§§ 1571_to_1584–1601_to_1604)
- CHAPTER 20A—MUTUAL DEFENSE ASSISTANCE CONTROL PROGRAM (§§ 1611_to_1611d–1613_to_1613d)
- CHAPTER 21—SETTLEMENT OF INTERNATIONAL CLAIMS (§§ 1621–1645o)
- CHAPTER 21A—SETTLEMENT OF INVESTMENT DISPUTES (§§ 1650–1650a)
- CHAPTER 22—MUTUAL SECURITY ASSISTANCE (§§ 1651_to_1675p–1711_to_1713)
- CHAPTER 23—PROTECTION OF CITIZENS ABROAD (§§ 1731–1732)
- CHAPTER 24—MUTUAL SECURITY PROGRAM (§§ 1750_to_1753a–1951)
- CHAPTER 24A—MIDDLE EAST PEACE AND STABILITY (§§ 1961–1965)
- CHAPTER 25—PROTECTION OF VESSELS ON THE HIGH SEAS AND IN TERRITORIAL WATERS OF FOREIGN COUNTRIES (§§ 1971–1980b)
- CHAPTER 26—ARMED FORCES PARTICIPATION IN INTERNATIONAL AMATEUR SPORTS COMPETITIONS (§ 1981_to_1985)
- CHAPTER 27—INTERNATIONAL CULTURAL EXCHANGE AND TRADE FAIR PARTICIPATION (§ 1991_to_2001)
- CHAPTER 28—INTERNATIONAL ATOMIC ENERGY AGENCY PARTICIPATION (§§ 2021–2027)
- CHAPTER 29—CULTURAL, TECHNICAL, AND EDUCATIONAL CENTERS (§§ 2051_to_2053–2078)
- CHAPTER 29A—INTER-AMERICAN CULTURAL AND TRADE CENTER (§§ 2081–2085)
- CHAPTER 30—INTERNATIONAL COOPERATION IN HEALTH AND MEDICAL RESEARCH (§§ 2101–2104)
- CHAPTER 31—INTERNATIONAL TRAVEL (§§ 2121–2131)
- CHAPTER 31A—NATIONAL TOURISM ORGANIZATION (§§ 2141–2141e,_2141f)
- CHAPTER 32—FOREIGN ASSISTANCE (§§ 2151–2441_to_2443)
- CHAPTER 33—MUTUAL EDUCATIONAL AND CULTURAL EXCHANGE PROGRAM (§§ 2451–2464)
- CHAPTER 34—THE PEACE CORPS (§§ 2501–2523)
- CHAPTER 35—ARMS CONTROL AND DISARMAMENT (§§ 2551–2595c)
- CHAPTER 36—MIGRATION AND REFUGEE ASSISTANCE (§§ 2601–2606)
- CHAPTER 37—FOREIGN GIFTS AND DECORATIONS (§§ 2621–2626)
- CHAPTER 38—DEPARTMENT OF STATE (§§ 2651–2734a)
- CHAPTER 39—ARMS EXPORT CONTROL (§§ 2751–2799aa2)
- CHAPTER 40—INTERNATIONAL EXPOSITIONS (§§ 2801–2807)
- CHAPTER 41—STUDY COMMISSION RELATING TO FOREIGN POLICY (§ 2821_to_2826)
- CHAPTER 42—INTERNATIONAL ECONOMIC POLICY (§ 2841_to_2849)
- CHAPTER 43—INTERNATIONAL BROADCASTING (§§ 2871_to_2877–2878_to_2883)
- CHAPTER 44—JAPAN-UNITED STATES FRIENDSHIP (§§ 2901–2906)
- CHAPTER 45—COMMISSION ON SECURITY AND COOPERATION IN EUROPE (§§ 3001–3009)
- CHAPTER 46—INTERNATIONAL INVESTMENT AND TRADE IN SERVICES SURVEY (§§ 3101–3108)
- CHAPTER 46A—FOREIGN DIRECT INVESTMENT AND INTERNATIONAL FINANCIAL DATA (§§ 3141–3146)
- CHAPTER 47—NUCLEAR NON-PROLIFERATION (§§ 3201–3282)
- CHAPTER 48—TAIWAN RELATIONS (§§ 3301–3316)
- CHAPTER 49—SUPPORT OF PEACE TREATY BETWEEN EGYPT AND ISRAEL (§§ 3401–3427)
- CHAPTER 50—INSTITUTE FOR SCIENTIFIC AND TECHNOLOGICAL COOPERATION (§§ 3501–3513)
- CHAPTER 51—PANAMA CANAL (§§ 3601–3873)
- CHAPTER 52—FOREIGN SERVICE (§§ 3901–4226)
- CHAPTER 53—AUTHORITIES RELATING TO THE REGULATION OF FOREIGN MISSIONS (§§ 4301–4316)
- CHAPTER 53A—DISPOSITION OF PERSONAL PROPERTY ABROAD (§§ 4341–4343)
- CHAPTER 53B—FOREIGN RELATIONS OF THE UNITED STATES HISTORICAL SERIES (§§ 4351–4357)
- CHAPTER 54—PRIVATE ORGANIZATION ASSISTANCE (§§ 4401–4416)
- CHAPTER 55—RESEARCH AND TRAINING FOR EASTERN EUROPE AND INDEPENDENT STATES OF FORMER SOVIET UNION (§§ 4501–4509)
- CHAPTER 56—UNITED STATES INSTITUTE OF PEACE (§§ 4601–4611)
- CHAPTER 57—UNITED STATES SCHOLARSHIP PROGRAM FOR DEVELOPING COUNTRIES (§§ 4701–4715)
- CHAPTER 58—DIPLOMATIC SECURITY (§§ 4801–4865)
- CHAPTER 59—FASCELL FELLOWSHIP PROGRAM (§§ 4901–4904)
- CHAPTER 60—ANTI-APARTHEID PROGRAM (§§ 5001–5117)
- CHAPTER 61—ANTI-TERRORISM—PLO (§§ 5201–5203)
- CHAPTER 62—INTERNATIONAL FINANCIAL POLICY (§§ 5301–5354)
- CHAPTER 63—SUPPORT FOR EAST EUROPEAN DEMOCRACY (SEED) (§§ 5401–5495)
- CHAPTER 64—UNITED STATES RESPONSE TO TERRORISM AFFECTING AMERICANS ABROAD (§§ 5501–5513)
- CHAPTER 65—CONTROL AND ELIMINATION OF CHEMICAL AND BIOLOGICAL WEAPONS (§§ 5601–5606)
- CHAPTER 66—UNITED STATES-HONG KONG POLICY (§§ 5701–5732)
- CHAPTER 67—FREEDOM FOR RUSSIA AND EMERGING EURASIAN DEMOCRACIES AND OPEN MARKETS SUPPORT (§§ 5801–5874)
- CHAPTER 68—DEMILITARIZATION OF FORMER SOVIET UNION (§§ 5901–5931)
- CHAPTER 68A—COOPERATIVE THREAT REDUCTION WITH STATES OF FORMER SOVIET UNION (§§ 5951–5965)
- CHAPTER 69—CUBAN DEMOCRACY (§§ 6001–6010)
- CHAPTER 69A—CUBAN LIBERTY AND DEMOCRATIC SOLIDARITY (LIBERTAD) (§§ 6021–6091)
- CHAPTER 70—MANSFIELD FELLOWSHIP PROGRAM (§§ 6101–6106)
- CHAPTER 71—UNITED STATES INTERNATIONAL BROADCASTING (§§ 6201–6216)
- CHAPTER 72—NUCLEAR PROLIFERATION PREVENTION (§§ 6301–6324)
- CHAPTER 73—INTERNATIONAL RELIGIOUS FREEDOM (§§ 6401–6481)
- CHAPTER 74—FOREIGN AFFAIRS AGENCIES CONSOLIDATION (§§ 6501–6617)
- CHAPTER 75—CHEMICAL WEAPONS CONVENTION IMPLEMENTATION (§§ 6701–6771)
- CHAPTER 76—ASSISTANCE TO COUNTRIES WITH LARGE POPULATIONS HAVING HIV/AIDS (§§ 6801–6842)
- CHAPTER 77—UNITED STATES-CHINA RELATIONS (§§ 6901–7002)
- CHAPTER 78—TRAFFICKING VICTIMS PROTECTION (§§ 7101–7113)
- CHAPTER 79—TRADE SANCTIONS REFORM AND EXPORT ENHANCEMENT (§§ 7201–7211)
- CHAPTER 80—DIPLOMATIC TELECOMMUNICATIONS SERVICE PROGRAM OFFICE (DTS-PO) (§§ 7301–7304)
- CHAPTER 81—INTERNATIONAL CRIMINAL COURT (§§ 7401–7433)
- CHAPTER 82—AFGHANISTAN FREEDOM SUPPORT (§§ 7501–7556)
- CHAPTER 83—UNITED STATES LEADERSHIP AGAINST HIV/AIDS, TUBERCULOSIS, AND MALARIA (§§ 7601–7682)
- CHAPTER 84—MILLENNIUM CHALLENGE (§§ 7701–7718)
- CHAPTER 85—NORTH KOREAN HUMAN RIGHTS (§§ 7801–7845)
- CHAPTER 86—CLIMATE CHANGE TECHNOLOGY DEPLOYMENT IN DEVELOPING COUNTRIES (§§ 7901–7909)
- CHAPTER 87—UNITED STATES AND INDIA NUCLEAR COOPERATION (§§ 8001–8008)
- CHAPTER 88—NUCLEAR NON-PROLIFERATION TREATY—UNITED STATES ADDITIONAL PROTOCOL IMPLEMENTATION (§§ 8101–8181)
- CHAPTER 89—ADVANCING DEMOCRATIC VALUES (§§ 8201–8262)
- CHAPTER 90—VOLUNTEERS FOR PROSPERITY PROGRAM (§§ 8301–8304)
- CHAPTER 91—ENHANCED PARTNERSHIP WITH PAKISTAN (§§ 8401–8442)
- CHAPTER 92—COMPREHENSIVE IRAN SANCTIONS, ACCOUNTABILITY, AND DIVESTMENT (§§ 8501–8551)
- CHAPTER 93—UNITED STATES-ISRAEL COOPERATION (§§ 8601–8605)
- CHAPTER 94—IRAN THREAT REDUCTION AND SYRIA HUMAN RIGHTS (§§ 8701–8795)
- CHAPTER 95—IRAN FREEDOM AND COUNTERPROLIFERATION (§§ 8801–8811)
- CHAPTER 96—SOVEREIGNTY, INTEGRITY, DEMOCRACY, AND ECONOMIC STABILITY OF UKRAINE (§§ 8901–8909)
Unless authorized by law, neither the President nor any person or agency shall, on behalf of the United States—
(1) subscribe to additional shares of stock of the Bank;
(2) vote for or agree to any amendment of the Cooperation Agreement which increases the obligations of the United States, or which changes the purpose or functions of the Bank; or
(3) make a loan or provide other financing to the Bank.
(f) Federal Reserve banks as depositories
Any Federal Reserve bank that is requested to do so by the Bank shall act as its depository or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall supervise and direct the carrying out of these functions by the Federal Reserve banks.
(g) Jurisdiction of United States courts and enforcement of arbitral awards
(Please read this carefully)
For the purpose of any civil action which may be brought within the United States, its territories or possessions, or the Commonwealth of Puerto Rico, by or against the Bank in accordance with the Cooperation Agreement, including an action brought to enforce an arbitral award against the Bank, the Bank shall be deemed to be an inhabitant of the Federal judicial district in which its principal office within the United States or its agency appointed for the purpose of accepting service or notice of service is located, and any such action to which the Bank shall be a party shall be deemed to arise under the laws of the United States, and the district courts of the United States, including the courts enumerated in section 460 of title 28, shall have original jurisdiction of any such action. ( 26 U.S. Code § 6330 – Notice and opportunity for hearing).
When the Bank is a defendant in any action in a State court, it may at any time before trial remove the action into the appropriate district court of the United States by following the procedure for removal provided in section 1446 of title 28.
(h) Exemption from securities laws for certain securities issued by Bank; reports required
(2) Exemption from securities laws for certain securities issued by the Bank; reports required
Any securities issued by the Bank (including any guarantee by the Bank, whether or not limited in scope) in connection with the raising of funds for inclusion in the Bank’s capital resources as defined in Section 4 of Article II of Chapter II of the Cooperation Agreement, and any securities guaranteed by the Bank as to both the principal and interest to which the commitment in Section 3(d) of Article II of Chapter II of the Cooperation Agreement is expressly applicable, shall be deemed to be exempted securities within the meaning of section 77c (a)(2) of title 15, and section 78c (a)(12) of title 15. The Bank shall file with the Securities and Exchange Commission such annual and other reports with regard to such securities as the Commission shall determine to be appropriate in view of the special character of the Bank and its operations and necessary in the public interest or for the protection of investors.
(3) Authority of Securities and Exchange Commission to suspend exemption; reports to the Congress
The Securities and Exchange Commission, acting in consultation with the National Advisory Council on International Monetary and Financial Problems, is authorized to suspend the provisions of paragraph (2) at any time as to any or all securities issued or guaranteed by the Bank during the period of such suspension. The Commission shall include in its annual reports to Congress such information as it shall deem advisable with regard to the operations and effect of this subsection and in connection therewith shall include any views submitted for such purpose by any association of dealers registered with the Commission.
Notice anything interesting about this map?
North American Development Bank
North American Free Trade Agreement
North American Industry Classification System
North American Standard Inspection [Transportation]
North American Wetlands Conservation Act
North American Association of State and Provincial Lotteries [NASPL]
Norris La Guardia Act