WINDOW ROCK, Ariz. (AP) — The Navajo Nation says it has closed on the purchase of a large ranch in south-central Colorado.

Tribal lawmakers approved the $23 million purchase earlier this month.

Navajo President Russell Begaye said Friday the tribe will change the name of the 25.5-square mile (66-sq. kilometer) Wolf Springs Ranch to a Navajo name.

The ranch is located in Huerfano and Custer counties in what is part of the tribe's aboriginal homeland. Tribal Vice President Jonathan Nez says the tribe bought the ranch to expand its land capital beyond the boundaries of the reservation.

The property taxes will be paid through a tribal trust fund.

The ranch has more than 230 head of cattle and 300 buffalo.