Office of Chief and Council
Government of Siksika Nation
P.O. Box 1100 Siksika, AB T0J 3W0 | (403) 734-5109 | Toll Free 1-800-551-5724 | www.siksikanation.com
March 22, 2022
Summary of the Ma’tapiiks Trust Agreement
Siksika Nation is establishing the Ma’tapiiks Trust (the “Trust”), to receive the settlement funds from the 2021 Global Settlement Agreement (the “Global Settlement Funds”) with Canada. The Trust will be administered by the Royal Trust Corporation of Canada (the “Trustee”) for the benefit of Siksika Nation. The Nation can also deposit other funds into the Trust in the future.
The rules for the administration of the Trust are set out in the Ma’tapiiks Trust Agreement (the “Agreement”), including how the Global Settlement Funds will be used. Below is a summary of some of the key terms of the Agreement.
Once the Global Settlement Funds are received in the Trust, an initial per capita distribution (a payment to each member) will be made. All Siksika Nation members will be entitled to a $20,000 distribution once the funds are received. Five months following the first distribution, all Siksika Nation members will be entitled to a $10,000 distribution, and one year following the first distribution, all Siksika Nation members will be entitled to further $10,000 distribution. The date that the Global Settlement Funds will be deposited into Trust is within Canada’s control and is unknown at this time.
50% of any distribution owing to members under the age of 18 years (“Minors”) will be paid to the Minor’s parent or guardian and the remaining 50% will be held in the Trust until the Minor reaches the age of 18. Special circumstances will be dealt with in accordance with Siksika Nation’s Distribution Policy.
Further details on the distribution from the Global Settlement Funds are provided in a chart at the end this document.
Use of the Funds Held in the Trust
The remainder of the Global Settlement Funds will be invested and allocated between 4 separate “funds” within the Trust as follows:
1. Community Development Fund
The Community Development Fund will provide funding for some of Siksika’s activities. The Plan will be based on community consultation. Each year, the Treasury Board will develop (subject to Council’s approval) an “Annual Allocation Plan” that will guide how the Accessible Funds from the Community Development Fund are spent.
The Plan will be based on community consultation carried out at least once every three years and will set out the priorities for the expenditure of Accessible Funds held in the Community Development Fund between the following purposes:
a) Community Purposes
A list of these purposes is found in the Trust Agreement. Some examples include, but not limited to, funding for wellness programs, construction and repair of public buildings on reserve, protection of the natural environment, funding sports and recreational activities, etc. In order for Council to use the Accessible Funds for one or more of these purposes, it will have meet certain requirements set out in the Trust Agreement, such as providing a Council Resolution to the Trustee stating that the expenditure is consistent with Annual Allocation Plan.
b) Business and Economic Purposes
These purposes include profit generating initiatives for Siksika Nation and land purchases or development that will be used for-profit, or in pursuit of business opportunities for Siksika Nation. The funds may be provided as loans, guarantees or capital investments, but if funding over $100 million is requested, the project must have the support of a majority of members in attendance at a meeting to provide the membership with financial information on the project. The Trust Agreement sets out the requirements that must be fulfilled in order for funding to be released by the Trustee, such as a Council Resolution demonstrating that the expenditure is for a community priority set out in the Comprehensive Community Plan.
c) Governance and Administration Purposes
In order to receive funds for governance and administration purposes, as defined in the Trust Agreement, Council must meet the requirements set out in the Trust Agreement, including providing a Council Resolution describing the specific purpose for which the funds are requested and stating that Council has considered how associated costs in the future will be funded and whether alternative sources of funding or grants could be practically accessed (if any).
2. Distribution Fund
The Trust Agreement allows for further per capita distributions to be made to members. Funds allocated to the Distribution Fund will be invested for the long term, and each year up to 85 percent of the increase in the market of the Distribution Fund will be available for members distributions. All distributions will be made in accordance with the Nation’s Distribution Policy, which will require 50% of any Minors’ distributions to be held in trust with the other 50% paid to the parent or guardian.
3. Land Fund
Money allocated to the Land Fund will be invested for the long term, and each year the Nation will be able to access the amount that represents the increase in the market value of the fund from the prior year (the “Accessible Fund for the Land Fund”).
These Accessible Funds can be used for costs associated with purchasing land, adding land to Siksika’s existing reserve, or creating new reserves. In order to access these funds, Council will have to develop a “Land Acquisition Strategy”, in consultation with members, setting out Siksika Nation’s short and long-term goals for acquiring land for various uses, including community expansion and economic development, etc.
4. Legacy Fund
Funds allocated to the Legacy Fund will be invested for the long-term benefit of Siksika Nation. Every year, a portion of the income earned in the Legacy Fund must be reinvested to ensure that the balance in the Legacy Fund keeps up with inflation. If there are additional gains in the Legacy Fund, those funds may be used from time to time to top up the Community Development Fund.
Appendix: Initial Distribution
The Distribution from the Global Settlement Funds will be made as shown in the following chart.
|1st Distribution||2nd Distribution||3rd Distribution|
|Amount per member||$20,000||$10,000||$10,000|
|Date of payment||Following receipt of the Global Settlement Funds The date of the 1stDistribution will be provided in advance in a notice of the distribution issued by the Registrar of Siksika Nation’s Membership Department||As soon as practicable following the five-month anniversary of the date of the 1st Distribution The date of the 2ndDistribution will be provided in advance in a notice of the distribution issued by the Registrar of Siksika Nation’s Membership Department||As soon as practicable following the one-year anniversary of the date of the 1st Distribution The date of the 3rdDistribution will be provided in advance in a notice of the distribution issued by the Registrar of Siksika Nation’s Membership Department|
|Eligibility||In order to receive the 1stdistribution, a person must be alive and on the membership list on the date of the 1st Distribution. No payment will be made to the estate of member whose death occurs prior to the date above||In order to receive the 2nddistribution, a person must be alive and on the membership list on the date of the 2nd Distribution No payment will be made to the estate of member whose death occurs prior to the date above||In order to receive the 3rddistribution, a person must be alive and on the membership list on the date of the 3rd Distribution No payment will be made to the estate of member whose death occurs prior to the date above|
*The date that the Global Settlement Funds are deposited into the Trust is dependent on when Canada provides them and is unknown at this time.