Managing Director
RBC Capital Markets
Karma Pemba is a Managing Director and Co-Head of the California K-14 Group of RBC Capital Markets, LLC. Karma has been in the financial service industry for over 17 years. Mr. Pemba’s expertise includes structing general obligation bonds, certificate of participation, revenue bonds, tax and revenue anticipation note, and student/workforce housing. Over his career, Mr. Pemba has completed over 200 financings totaling over $25 billion.
Mr. Pemba graduated with a Bachelor of Business Administration from Baruch College and a Master of Business Administration from Fordham University. He is currently registered with FINRA with Series 50, 52, 63 and 79.
The difference between the amount of a settlement or judgement and public agency liability coverage most often can’t be drawn from reserves without threatening an agency’s long-term financial sustainability. Developing a payment strategy for filing the gap will be essential. This session will discuss the strengths and weaknesses of different payment strategies for different agencies including receiverships and emergency apportionments, tax increases, and bond issuance. Panelists will address the challenging constitutional, statutory, and procedural hurdles and how they may be overcome to form a viable payment strategy.