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When our client, the
third largest public utility company in the country,
wanted to open a mine near Indian country, we
managed the land transactions, including purchases
from private landowners and negotiations with
state and federal regulatory agencies. Issues
ranged from water rights on and off the reservation
through repatriation of excavated Native American
dead, complex hydrology and political issues.
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Our client wanted to make more,
larger loans to tribes and tribal entities. However,
it encountered difficulty selling participation
in the loans because of peculiarities in the
Indian Financing Act, BIA guaranteed loan program.
Working closely with federal legislators and
their staff, we were able to craft, and facilitate
passage by Congress amendments to the Indian
Financing Act eliminated the offending peculiarities,
opening opportunities for our client to increase
its originations of Indian country loans.
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A new client asked us to prepare
a thorough review and analysis of issues incident
to doing business in Indian country and investing
with tribes. Drawing on our experience, expertise
and relationships with policy makers in Washington,
D.C., we were able to provide to our client highly
relevant information and guidance on current
law and practice and on changes in the laws and
associated regulations that have a significant
impact on business and banking in Indian country.
We continue to provide legislative review and
policy analysis to this client as well as a number
of other Indian country lenders and businesspeople.
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When our client approached us,
it had an uncollectible $1.9 million loan to
a Texas tribe – prior counsel had failed
to ensure proper waiver of sovereignty in the
loan documents. The Tribe was motivated to work
out the loan with the lender, and ultimately
completed a successful and enforceable refinance.
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Our client, an established Indian
country lender, asked for our help with the workout
of an $8.5 million loan and revolving line of
credit to a tribal entity for operations and
expansion of a manufacturing enterprise. The
process included real estate as well as banking
transactions, and required obtaining BIA guaranty
of the loan and interest subsidies, and a variety
of federal and tribal approvals of the transaction.
The workout was successful, and the lender continues
to do business with the Tribe.
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Our client, new to Indian country
lending, wanted to loan $20 million to a tribe
for new educational facilities. The transaction
required the bank to obtain a USDA guaranty and
BIA approvals, as well as cooperating with the
Tribe’s bond underwriters who were simultaneously
closing a $190MM bond issue for a new tribal
resort project. By coordinating with other parties
and appreciating the Tribe’s needs and
goals, we were able to put in place permanent
financing for the first ever school on the reservation. |
