The purpose of the this Ordinance is to provide the policies and procedures for equal access to funds generated from interest through enactment of P.L. 102-575, Title XXXV, "The Standing Rock Sioux Tribe Equitable Compensation Act of 1992" ("the Act").
Interest from the original endowment of the $90.6 million has been mandated by Congress to address the educational, social welfare, and economic development issues on the Standing Rock Reservation. The Act and this Ordinance seek to implement the Congressional mandate as well as develop the Tribe's infrastructure. Therefore the following categories as developed by the Tribe and as authorized by the Act to receive funding shall be:
1.) Education Fund
2.) Social/Cultural Fund
3.) District Economic Development Fund
4.) Resource Development and Land Acquisition Fund
5.) Business Equity Loan Fund
6.) Endowment Replenishment Fund
7.) Oahe Economic Recovery Fund
8.) JTAC Oversight Office
As set forth in the Act, participation and involvement in the interest generated by the original endowment shall be available to enrolled members of the Standing Rock Sioux Tribe, who reside on the Standing Rock Reservation. Additionally, special consideration and provisions shall be given to those individual Tribal members, their immediate family members and direct descendants who lost their homes and/or lands as a result of the flooding of their lands by passage of the OAhe Act of 1958.
SRST Council Ordinance, Title XXXIII click here