Session 4: Finance for Tribes
2.75 AV CLE Credits, WSBA #297811
This course addresses issues to be considered by Tribes and Tribal entities when borrowing money or otherwise raising capital.
Credits: 2.75 AV CLE, WSBA #297811
Mark Jarboe, Dorsey & Whitney LLP
Session Summary - This course addresses issues to be considered by Tribes and Tribal entities when borrowing money or otherwise raising capital. It includes:
• The fundamental differences between equity and debt, between commercial banks and investment banks, and between loans and notes or bonds.
• Sources of repayment and the differences between recourse and collateral.
• The advantages and disadvantages to a Tribe in the use of tribal authorities, corporations or governmental entities as borrowers.
• The workings of common financial covenants, such as a minimum debt service (or interest) coverage ratio, a maximum leverage ratio, and restrictions on distributions or transfers to governmental accounts.
• The principal governmental concerns of lenders, including sovereign immunity, court jurisdiction, and impairment of contracts, and what steps can be taken by tribal government in advance of a borrowing in order to address those concerns while protecting fundamental tribal interests.
Mark A. Jarboe recently retired from the practice of law after a legal career spanning 34 years. He was a partner at Dorsey & Whitney LLP in Minneapolis, Minnesota and served as the head of the firm's Indian Law Practice Group. In over 25 years of practice in Indian Country he represented Indian tribal governments, tribal businesses and financial and other entities doing business with tribes across the country in connection with financings of reservation infrastructure, economic development and other activities; contractual, regulatory, gaming, economic development and other matters; and governmental and tribal court structuring and jurisdiction issues. He has worked on nearly 100 financings by tribes and tribal entities, representing both tribal borrowers and lenders to tribes and including single bank, club and syndicated bank financings; private placements of debt; high-yield notes; and taxable and tax-exempt borrowings.
In the mid-1990s Mr. Jarboe was a co-presenter, with James L. West (Cheyenne), in a two-year series of national workshops on "Cultural and Legal Issues Involved in Doing Business in Indian Country" sponsored by the Federal Reserve Banks of Minneapolis, St. Louis and San Francisco. The workshops have been converted to a video series and are available through the Federal Reserve Bank of Minneapolis. He has spoken at numerous workshops and conferences in Indian country on the legal issues involved in doing business in Indian country, has published numerous articles on tribal business and financial issues, and his paper "Doing Business in Indian Country" has been reprinted in many collections. He has testified before the United States Senate Committee on Indian Affairs on the subject of tribal sovereign immunity in business and contractual matters.
Mr. Jarboe is a graduate of the University of Michigan and the Harvard Law School. He is listed in Who's Who in American Law, Who's Who in America, Who's Who in the World and Best Lawyers in America (Gaming). He has been rated in Band 1 (National) by Chambers USA for the last four years in its ratings of Native American Law practitioners.
General Registration - $40.00
SU Law Alumni - $25.00