{"id":3979,"date":"2020-03-17T22:38:00","date_gmt":"2020-03-17T22:38:00","guid":{"rendered":"http:\/\/www.firstnationstrust.com\/fnt_wp\/?page_id=3979"},"modified":"2020-03-18T16:26:02","modified_gmt":"2020-03-18T16:26:02","slug":"roles-of-the-trustees","status":"publish","type":"page","link":"https:\/\/www.firstnationstrust.com\/fnt_wp\/?page_id=3979","title":{"rendered":"Roles of the Trustees"},"content":{"rendered":"

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Roles of the Trustees<\/h2><\/div><\/div>[\/vc_column][vc_column css=”.vc_custom_1584548759282{margin-bottom: 30px !important;}”][vc_row_inner equal_height=”yes” content_placement=”middle” gap=”30″ css=”.vc_custom_1575376546455{padding-right: 25px !important;padding-left: 25px !important;}”][vc_column_inner width=”2\/3″ css=”.vc_custom_1583532550652{padding-top: 170px !important;padding-right: 10% !important;padding-bottom: 170px !important;padding-left: 10% !important;background-image: url(http:\/\/www.firstnationstrust.com\/fnt_wp\/wp-content\/uploads\/2020\/03\/Eagle.jpg?id=3818) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][\/vc_column_inner][vc_column_inner width=”1\/3″ css=”.vc_custom_1575465601578{border-top-width: 3px !important;border-right-width: 3px !important;border-bottom-width: 3px !important;border-left-width: 3px !important;padding-top: 15% !important;padding-right: 10% !important;padding-bottom: 15% !important;padding-left: 10% !important;border-left-color: rgba(0,0,0,0.12) !important;border-left-style: solid !important;border-right-color: rgba(0,0,0,0.12) !important;border-right-style: solid !important;border-top-color: rgba(0,0,0,0.12) !important;border-top-style: solid !important;border-bottom-color: rgba(0,0,0,0.12) !important;border-bottom-style: solid !important;}”]
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01<\/h2><\/div>
<\/p>\n

A TRUST<\/p>\n

is often established to provide a way of having property held for an individual or a group and allows the trust property to be managed by a trustee or group of trustees.<\/p>\n

Regardless of the nature of the property held by the trust, Trustees must manage the trust so that decisions made about the trust\u2019s property are made in the best interests of the beneficiaries of the trust.<\/p>\n

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02<\/h2><\/div>
<\/p>\n

The First Nations Trust<\/p>\n

was established to \u201ceffect the distribution of the monies due to First Nations from, among other things, the profits from both SIGA and SGC casinos\u201d.<\/p>\n

In the case of the First Nations Trust, the Trust is defined by the 2003 Trust Indenture. The Indenture is the result of an agreement made in 2002 between the FSIN and the Province of Saskatchewan. The Property held by the First Nations Trust is defined in the 2003 Trust Indenture and that property is money. The money is received from the net profits of eight casinos, six are under First Nation control and two are under the control of the Province.<\/p>\n

Regardless of the nature of the property held by the trust, Trustees must manage the trust so that decisions made about the trust\u2019s property are made in the best interests of the beneficiaries of the trust.<\/p>\n

A Beneficiary of the First Nation Trust is defined in the 2003 Trust Indenture as a \u201cFirst Nation, an Indian Band or the Federation of Saskatchewan Indian Nations\u201d.<\/p>\n

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03<\/h2><\/div>
<\/p>\n

The Power of Authority of the Trustees as set out in section 8 of the 2003 Trust Indenture, include authority to pay authorized expenses; to retain the services of advisors, professionals or others to assist the Trustees in the performance of their duties; to pay reasonable remuneration to the Trustees for performance of their duties; to follow valid direction from the Chiefs-in-Assembly (Legislative Assembly<\/p>\n

of the FSIN); and except as limited by the 2003 Trust Indenture, pay out the trust property for the benefit of any one or more of the beneficiaries, or for the benefit of First Nations peoples.<\/p>\n

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04<\/h2><\/div>
Permitted Use of the First Nations Trust property are set out in the 2003 Trust Indenture. For monies distributed by the Trustees, the Trust Indenture requires that the funds must be used for specified purposes for First Nations and First Nations peoples. In accordance with Section 5.01 of the Trust Indenture those permitted uses are:<\/p>\n

\u2022 Economic development;
\n\u2022 Social programs;
\n\u2022 Justice initiatives;
\n\u2022 Education and education facilities;
\n\u2022 Development and operation of recreation facilities;
\n\u2022 Senior and youth programs;
\n\u2022 Cultural and spiritual development;
\n\u2022 Development and maintenance of community infrastructure;
\n\u2022 Health initiatives;
\n\u2022 Governance activities;
\n\u2022 Treaty protection, and
\n\u2022 Any other charitable purpose.<\/p>\n

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