Ozîja Thiha Legacy Trust

• A trust fund is being created by Bearspaw First Nation for the benefit of both present and future generations of the Nation and has been named the Ozîja Thiha Legacy Trust.

• The term “Capital Moneys” is defined by the Indian Act but in our case generally refers to royalty payments made on the sale natural gas production from Stoney-Nakoda lands.

• The Ozîja Thiha Legacy Trust would be managed by a board of professional trustees who collectively have had many years of experience in governance and managing large amounts of money. All trustees would be independent from Chief and Council and the Nation.

• The yearly revenue of the Trust will replace the semi-annual interest payments that the Nation currently receives from Indigenous and Northern Affairs Canada.

• The Trustees will be required to invest the Capital Moneys in accordance with a trust deed so that:
   a) The original value of the Trust will be protected from inflation and will grow to meet the needs of the Nation:
   b) The yearly revenue provided to Bearspaw First Nation will rise over time as the value of the Trust grows.

• The Trust Fund has been designed in a similar way to the Samson Cree Nation’s Kisoniyaminaw Heritage Trust Fund, Ermineskin’s Neyaskweyahk Trust Fund and the Onion Lake’s Heritage Trust Fund. In 2005, the Samson membership agreed to transfer all $350 million of Samson’s Capital Moneys administered by Canada to an independent trust. This Trust has been successfully operating for over 16 years. It has grown its Capital to $500 million and provided over $120 million in Revenue.

• In 2011, the Ermineskin membership agreed to transfer $240 million to an independent trust. This Trust has been successfully operating for over 9 years. It has grown its Capital to $375 million and provided over $100 million in Revenue. Onion Lake Trust was started four years ago and also has done well. All these Trusts have earned significantly more money than would have been earned had the moneys been left under the control of the Government of Canada (INAC).

• Further information will be distributed in the near future to explain the process in relation to the proposed capital moneys transfer. Bearspaw membership will have the chance to inform and educate themselves about their new trust fund.

The transfer of moneys will be an important exercise of Bearspaw’s Treaty, aboriginal and inherent rights as a self-determining Treaty Nation under Treaty no. 7.

Bearspaw will have the opportunity to obtain a higher rate of return compared to the extremely low rate of return paid for many years on Stoney/Bearspaw Capital Moneys by Indigenous and Northern Affairs Canada.

Currently the annual rate of return paid by Government of Canada on Stoney/Bearspaw Capital Moneys is approximately 1.1% per year. The rate of inflation in Canada 2020 is 2.3% which means that the Bearspaw Nation is actually losing money by leaving their moneys with the Government of Canada.

Growth of Bearspaw’s moneys through an independent trust and the additional revenues generated would assist to offset costs associated with Bearspaw’s rapidly growing population and the expanding needs of the membership.

The Ozîja Thiha Legacy Trust will require that a detailed annual report be provided to the Bearspaw membership together with audited financial statements. The Government of Canada has never reported in a proper way to Bearspaw or the Stoney Nakoda Nation in relation to the management of our Capital Moneys.

The establishment of a Ozîja Thiha Legacy Trust would provide a financial vehicle to build wealth, for not only present but also for future generations.The Trust would not negatively affect or diminish the Treaty and aboriginal rights of Bearspaw First Nation and its members.

The transfer of Capital Moneys would represent a milestone in Bearspaw Nation’s struggle to assert its sovereignty, Treaty and self-determining status and create a legacy fund for present and future generations of Bearspaw members.