Mr. Chairman, the way that the agreement reads with regard to this is there will be a trust fund set up which will receive the money. The money has to be matched by NTI, the new organization. So every dollar we give is matched. This trust fund will be administered by a board and this board will oversee the administration of this trust. There will be an appropriate program drafted and implemented by this board for the disbursement of this money that comes out of the trust fund. Not counting interest in five years, the sum total of this money will be $30 million that will have been injected. That is not an accurate figure because we don't count in the interest. The administration of this trust by the board and the staff is going to come off of this as well. Thank you.
Stephen Kakfwi on Tabled Document 34-12(5): Tradition And Change, A Strategy For Renewable Resource Development In The Nwt, February 1994
In the Legislative Assembly on March 28th, 1994. See this statement in context.
Tabled Document 34-12(5): Tradition And Change, A Strategy For Renewable Resource Development In The Nwt, February 1994
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
March 27th, 1994
Page 905
See context to find out what was said next.