[HISTORY: Adopted by the Legislature of the
Menominee Indian Tribe 5-23-1984 by Ord. No. 84-4. Amendments noted where
applicable.]
This Charter is issued to a tribal business
to be known as "Menominee Tribal Community Development Corporation,"
hereinafter "MTCDC."
The purpose of MTCDC shall be economic development
of the Menominee Tribe, and for such purpose the scope of authority
of MTCDC shall be a grant of all powers necessary to manage and operate
business ventures in order to properly perform such duties, including
the power to operate subsidiary businesses which come within its scope
of authority in order to further economic development needs of the
Menominee Tribe.
MTCDC shall be subject to the authority and
control of a Board of Directors consisting of five enrolled members
of the Menominee Tribe appointed by the Tribal Legislature. Once appointed,
the Board of Directors shall immediately formulate bylaws and a plan
of operations which shall set forth procedures governing the operation
of the Board; provided, however, that such bylaws shall not become
effective until approved by a majority vote of the Tribal Legislature.
MTCDC is established for the purposes of management
only and shall not own any tribal assets or have authority to pledge,
mortgage, lease, or otherwise encumber tribal lands or interests therein
subject to its management. MTCDC may, however, consistent with applicable
federal and tribal law, pledge, mortgage, lease, and otherwise encumber
interests held in its own name as security for debts and sell, acquire,
lease, exchange, transfer, or assign personal property or interests
therein.
The Tribal Legislature shall not interfere with
the business decisions of the management of MTCDC; however, the Tribal
Legislature shall retain all authority and power to exercise all proper
governmental and sovereign functions over MTCDC and over (real) property
managed and owned by MTCDC.
MTCDC shall share its annual net profits with
the Menominee Tribe on an equitable basis, which will be based on
industry standards. The business shall make regular reports on its
financial status to the Tribe through the Tribal Legislature.
This Charter may be amended by an affirmative
vote of 2/3 of the Tribal Legislature at any regular meeting of the
Tribal Legislature or special meeting for that purpose.
For the purpose of enabling MTCDC to enter into
business agreements to secure debts or to provide services or products,
MTCDC is authorized to agree by specific written agreement with any
party to sue and be sued in its capacity as a chartered tribal business
upon any contract, claim, or obligation arising out of its authorized
activities, and by such agreement MTCDC waives any immunity from suit
it may otherwise have; provided, however, that the Menominee Indian
Tribe, in authorizing the establishment by charter of MTCDC, does
not waive nor limit in any way the Tribe's sovereign immunity from
suit.
