As a result of the clear endorsement by the members in the referendum of October 30, Council has been proceeding with the implementation of the settlement deal.
The month of November 2009 was set aside as an appeal period, in case there were any issues raised by members about the balloting process. No appeals were filed.
Beginning with early December, Council began to circulate the documents to obtain the necessary signatures, Band Council Resolutions, and other approvals necessary to implement the deal, including the forms necessary to incorporate the new Trust for the minor children. The documents have been signed and have been passed on to Canada for their approval.
Once Canada has signed off on the documents also, then they will process the payment of the funds. When the funds are received, $25,000,000 will be distributed directly to the members. Approximately $9,000,000 will go into the trust for the minor children, and the balance of approximately $16,000,000 will be distributed to the adult members.
The agreement specifies that all members who are on the approved list of Miksiew membership as at the date the funds are received will be eligible for a distribution. This means that anyone whose membership has not been completed, and anyone who has become deceased will not be eligible for a payment. Based on our current membership numbers, the members will receive payments of $10,000 each.
We do not expect to receive the funds from Canada before March or April of 2010, and the distributions to members will not take place until the money is received.
It is important that members obtain bank accounts and provide our office with your account information. We expect to make the payments to the members electronically directly to your bank account. This will save MCFN money as it is easier and cheaper to process payments in this way. Also, members should receive access to their funds more quickly electronically, without the need for the bank to place holds on the funds.
Please provide our office with a copy of a void cheque or a written confirmation from your bank showing all the correct bank account information so that we may process your payment.