MINUTES - Special Council - 20030715
TOWN OF AURORA
SPECIAL COUNCIL
BOREALIS HYDRO ELECTRIC HOLDINGS INC.
ANNUAL SHAREHOLDER’S MEETING
MINUTES
NO. 03-21
Council Chambers
Aurora Town Hall
Tuesday, July 15, 2003
ATTENDANCE
COMMITTEE MEMBERS Mayor Jones in the Chair; Councillors Griffith,
Kean, MacEachern, Pedersen, Timpson,
Vrancic and Wallace
MEMBERS ABSENT Councillor West was absent
TOWN STAFF Chief Administrative Officer, Administrative Co-
ordinator/Deputy Clerk and Treasurer
HYDRO BOARD OF DIRECTORS Gord Lytle, Jane Murray, John Sanderson, Dan
Sooley, and Calvin White
HYDRO LEGAL COUNSEL Mark Rodger, Borden Ladner Gervais
Allister Byrne, Grant Thornton LLP
Mike Bunn, Grant Thornton LLP
HYDRO STAFF David Frye, Acting Chief Financial Officer
Cooky Ellis, Secretary
Mayor Jones called the meeting to order at 4:00 p.m.
I DECLARATIONS OF PECUNIARY INTEREST
There were no declarations of pecuniary interest under the Municipal Conflict of
Interest Act.
II APPROVAL OF AGENDA
Moved by Councillor Griffith Seconded by Councillor Timpson
THAT the content of the Agenda be approved as presented.
CARRIED
Special Council Meeting No. 03-21 Page 2 of 3
Borealis Hydro Electric Holdings Inc. Annual Shareholder’s Meeting
Tuesday, July 15, 2003
III ADOPTION OF MINUTES
Borealis Hydro Electric Holding Inc. Shareholder's Meeting Minutes No. 01-
03, Monday, February 3, 2003
Moved by Councillor Griffith Seconded by Councillor Timpson
THAT the Minutes of Meeting Number 01-03 be adopted as printed and
circulated.
CARRIED
IV DELEGATIONS
None.
V CONSIDERATION OF ITEMS REQUIRING SEPARATE DISCUSSION
Items 1, 2 and 4 were identified for separate discussion.
VI ADOPTION OF ITEMS NOT REQUIRING SEPARATE DISCUSSION
Moved by Councillor Griffith Seconded by Councillor Pedersen
THAT the following recommendations respecting the matters listed as
“Items not Requiring Separate Discussion” be adopted as submitted to
Council and Staff be authorized to take all necessary action required to
give effect to same:
3. Borealis Hydro Electric Holding Inc. Shareholder's Meeting #02-03
Aurora Hydro Strategic Action Plan
THAT the Aurora Hydro Strategic Action Plan be received for information.
5. Appointment of Auditors Borealis Hydro Electric Holding Inc.
THAT Grant Thornton LLP be re-appointed as the auditors of the Borealis
Hydro Electric Holding Inc.
6. ADM03-012 – Borealis Holdings Incorporated: Revised Shareholder Declaration
Board of Directors Appointments
THAT the Mayor and Clerk be authorized to execute a Revised and
Restated Shareholder Declaration relating to Borealis Holdings
Incorporated directing that the person holding the position of Town
Treasurer/Director of Finance be a member of the Board of Directors.
THAT Jane Murray be appointed to the Board of Directors of Borealis
Holdings Incorporated for a 3-year term;
THAT Allan Evelyn the Treasurer and Director of Finance for the Town of
Aurora be appointed to the Board of Directors of Borealis Holdings
Incorporated.
CARRIED
Special Council Meeting No. 03-21 Page 3 of 3
Borealis Hydro Electric Holdings Inc. Annual Shareholder’s Meeting
Tuesday, July 15, 2003
VI IN CAMERA
Moved by Councillor Pedersen Seconded by Councillor Griffith
THAT Council proceed In Camera to address personnel matters subject to
solicitor/client privilege.
CARRIED
Council resolved into an in camera session to address personnel matters subject to
solicitor/client privilege at 4:05 p.m.
Council resumed in public session at 5:55 p.m.
VII ITEMS REQUIRING SEPARATE DISCUSSION
2. Borealis Hydro Electric Holding Inc. Shareholder's Meeting #02-03
Year in Review and Current Initiatives Update
Mr. John Sanderson gave an update including a review of events during the
deregulation of the hydro industry and the current initiatives of Aurora Hydro
Connections.
Moved by Councillor MacEachern Seconded by Councillor Pedersen
THAT the Year in Review and Current Initiatives Update be received for
information.
CARRIED
4. Borealis Hydro Electric Holding Inc. Shareholder's Meeting #02-03
Consolidated Financial Statements, December 31, 2002
Moved by Councillor Timpson Seconded by Councillor Griffith
THAT the Consolidated Financial Statements, December 31, 2002 be
received for information.
CARRIED
VIII OTHER BUSINESS, COUNCILLORS
Mayor Jones thanked Mr. Gord Lytle, retiring Member of the Board of Directors
for Aurora Hydro Connections, for his dedication and service to Aurora Hydro
and wished him all the best in the future.
Mayor Jones congratulated Allan Evelyn, Treasurer for the Town of Aurora, for
his appointment and Jane Murray on her re-appointment to the Board of
Directors of Borealis Holdings Incorporated.
Councillor Kean enquired if the past financial statements for Aurora Hydro were
available to the public. Mr. Sanderson advised Council that they were available.
IX ADJOURNMENT
Moved by Councillor Griffith
THAT the meeting be adjourned at 6:20 p.m.
CARRIED