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SEABIRD ISLAND, BC - The Government of Canada, Canadian Pacific Railway (CPR) and the Boothroyd, Cook's Ferry, Matsqui, Seabird Island, and Skuppah Indian Bands today mark the passing of the Property Assessment and Taxation (Railway Right-of-Way) Regulations and completion of all legal steps required for the agreed settlement of the litigation involving CPR and the five First Nations.

"We've already held one celebration at Seabird Island to acknowledge the strong 'yes' vote for settlement from all five Bands. Now we'll be celebrating again to say 'well done' to everyone involved," said Councillor Clem Seymour, Seabird Island.

The Property Assessment and Taxation (Railway Right-of-Way) Regulations came into effect November 8, 2001 and are the first regulations under the Indian Act to assist in the valuation of property and the setting of property tax rates on reserve. The regulations follow the ratification and signing of individual settlement agreements with each of the five First Nations, which took place last year.

"This agreement is the result of constructive dialogue, collaboration and co-operation between CPR and the five First Nations. It is tangible evidence of the meaningful commitment the railway has made to improving relationships with neighbours and communities," said John Walsh, Vice-President of Real Estate at CPR.

"These regulations are the first of their kind under the Indian Act," said Senator Mobina Jaffer. "This is a landmark agreement and an excellent example of how working together can lead to innovative solutions that can benefit all parties."

The regulations and settlement agreements provide commercial certainty for CPR and utilities that have business interests on reserves by providing for First Nation property taxation of CPR right-of-way interests for these five First Nations.