The new Cherokee Indian Hospital in Cherokee, North Carolina. Photo from Cherokee Indian Hospital Authority / Facebook

The Eastern Band of Cherokee Indians in North Carolina will soon be completely debt free.

The tribal council approved a measure to pay off more than $96 million in loans, The Cherokee One Feather reported. The tribe owes nearly $70.8 for the new Cherokee Indian Hospital and about $25.8 million for a new waste water treatment plant, the paper said.

"A total of almost $100 million that we can reduce our overall tribal debt and this will help to add more financial security to our tribe," Chief Patrick Lambert wrote in his monthly report for April 2016.

A note signing ceremony is expected to take place next week, The One Feather reported.

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Tribe to payoff Waste Water Treatment Plant, Hospital loans (The Cherokee One Feather 5/5)

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