Home page

Text size

E-mail this page

WHATI/LAC LA MARTRE - As of Aug. 4 the Tlicho Nation will be debt free and, at the government's annual gathering in Whati last week, leaders were put to the task of deciding what to do with the millions of dollars they will be receiving in capital transfer payments from now until 2020.

"The money has to be put somewhere," said John B. Zoe, a senior adviser to the Tlicho government.

Since 2005 the Tlicho government has been paying off $28 million it borrowed from the federal government to negotiate a land claim agreement.

This year, for the first time, the Tlicho Nation will get to keep its government compensation cheque - to the tune of $7.6 million.

On Wednesday morning, Tlicho leaders passed the Capital Transfer Payment Interim Protection Law, which dictates transfer funds will be stowed away, and public consultations will be held over the next two years to decide the best way to spend or invest the money.

As part of Tlicho's land claim agreement, they are slated to receive $90 million between 2005 and 2020.

"You're an example for all the people in Canada who are in land claims right now," one Tlicho legal adviser told those assembled Tuesday afternoon. "This money should be there forever."

"We need the law for the leadership to go ahead and set up an interim account so we can start taking account of the interest right away," Zoe said.

The interim law was drafted by the chief executive council and passed by assembly members, which include two representatives from each of the Tlicho's four communities, those community's four chiefs and Eddie Erasmus, the grand chief.

Although the draft law wasn't changed, members postponed the final vote from Tuesday to Wednesday. It was eventually passed unanimously.

The law states that, at a minimum, the money the Tlicho Nation receives from the federal government must maintain its constant value after inflation. Tlicho leaders have to arrange for an expert investment opinion for the funds to ensure the investment is protected, and a long-term plan must be provided to provide the framework for a new law within two years.

Zoe said once public consultations are concluded, a new law will be enacted to better reflect what the majority of people want to do with the money.

The Tlicho annual gathering, which included the assembly meeting and an annual general meeting, ran from July 5 to 7 in Whati's community hall.

People from the Tlicho's four communities - Gameti, Wekweeti, Behchoko and Whati - as well as Yellowknife and Deline attended, according to Zoe.

In total, more than 400 people travelled to Whati for the proceedings.

None of Tlicho's chiefs were available to speak by press deadline.

We welcome your opinions. Click here to e-mail a letter to the editor.