SENATE CONCURRENT RESOLUTION NO. 23

(By Senators Miller and Yost)

Requesting Acting Governor Earl Ray Tomblin to communicate further with the Congressional Delegation from the State of West Virginia to ask the United States Department of State to make certain demands on the government of the United Arab Emirates.

    Whereas, The Government of Abu Dhabi, United Arab Emirates is in arrears on certain of its sovereign obligations; and

    Whereas, Some West Virginians have purchased bonds issued by the Government of Abu Dhabi, bonds that are now in arrears and at risk of default; and

    Whereas, Repayment of these bonds by the Government of Abu Dhabi would result in significant tax revenues to the State of West Virginia, and also return investors’ capital for reinvestment in significant new projects in West Virginia; and

    Whereas, Members of the West Virginia Congressional Delegation have attempted to resolve this matter with the Embassy of the United Arab Emirates in Washington, D.C. but without result; therefore, be it

    Resolved by the Legislature of West Virginia:

    That Acting Governor Ray Tomblin be requested to communicate further with the Congressional Delegation from the State of West Virginia to ask the United States Department of State to make certain demands on the government of the United Arab Emirates; and, be it

    Further Resolved, That, pursuant to the United States Constitution, Article 1, Section 8, Paragraph 3, which bestows on the United States Congress the duty to regulate commerce with foreign nations, the Congressional Delegation from the State of West Virginia should renew their resolve and ask their Congressional colleagues and every United States legislator, on a bipartisan basis, to ask the United States Department of State to demand that the government of the United Arab Emirates honor and pay their sovereign financial obligations that are guaranteed by the Government of Abu Dhabi as evidenced by bonds signed by their own officials.