MINUTES - Special Council - 20040622
TOWN OF AURORA
SPECIAL COUNCIL
BOREALIS HYDRO ELECTRIC HOLDINGS INC.
ANNUAL SHAREHOLDER'S MEETING
NO. 04-21
Council Chambers
Aurora Town Hall
Tuesday, June 22, 2004
ATTENDANCE
COMMITTEE MEMBERS Mayor Jones in the Chair; Councillors Buck, Hogg,
Gaertner, Kean, Wallace and West.
MEMBERS ABSENT Councillors Morris and Vrancic were absent.
OTHER ATTENDEES Chief Administrative Officer, Treasurer and
Administrative Co-ordinator/Deputy Clerk
Mayor Jones called the meeting to order at 5:20 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 Wallace Seconded by Councillor Kean
THAT the content of the Agenda as circulated by the Corporate Services
Department be approved as presented.
CARRIED
III RECEIPT OF MINUTES
Borealis Hydro Electric Holdings Inc., Annual Shareholder’s Meeting
Minutes No. 03-21, Tuesday, July 15, 2003
Moved by Councillor Buck Seconded by Councillor Kean
THAT the Minutes of Meeting No. 03-21 be received for information.
CARRIED
Mr. George Steeves, Chair of the Board of Directors of Borealis Hydro Electric
Holdings Inc. introduced the Members of the Board and staff of Aurora Hydro
Connections Limited, present.
Special Council Meeting No. 04-21 Page 2 of 3
Borealis Hydro Electric Holdings Inc.
Annual Shareholder’s Meeting - Tuesday, June 22, 2004
IV DELEGATIONS
Mr. John Sanderson, President and CEO of Aurora Hydro Connections
Limited to present Council with an overview of the significant activities
undertaken by Aurora Hydro in 2003 and current initiatives for 2004.
Mr. John Sanderson, President and CEO of Aurora Hydro Connections Limited
presented Council with an overview of the significant activities undertaken by
Aurora Hydro in 2003 and current initiatives for 2004.
Councillor Hogg requested that Hydro staff investigate and report back at the
next annual shareholder meeting regarding alternate cost savings and the
potential implementation of on-line services for Aurora Hydro.
V CONSIDERATION OF ITEMS REQUIRING SEPARATE DISCUSSION
1. Consolidated Financial Statements, December 31, 2003
Moved by Councillor Kean Seconded by Councillor Wallace
THAT the attached Consolidated Financial Statements, December 31,
2003, as approved by the Board of Directors, and the accompanying
Management Discussion and Analysis be received for information.
CARRIED
2. Memorandum from John Sanderson, President and CEO of Aurora Hydro
Connections Limited
Re: Appointment of Auditors for Borealis Hydro Electric Holdings Inc.
Moved by Councillor Kean Seconded by Councillor Wallace
THAT Grant Thornton LLP be re-appointed as the auditors of Borealis
Hydro Electric Holdings Inc.
CARRIED
3. Memorandum from John Sanderson, President and CEO of Aurora Hydro
Connections Limited
Re: Appointment of Directors for Borealis Hydro Electric Holdings Inc.
Moved by Councillor Kean Seconded by Councillor Hogg
THAT the Shareholder accept the nominations of Mr. Calvin White and Mr.
Dan Sooley to be re-appointed to the Board of Directors for a 3-year term.
CARRIED
Special Council Meeting No. 04-21 Page 3 of 3
Borealis Hydro Electric Holdings Inc.
Annual Shareholder’s Meeting - Tuesday, June 22, 2004
VI READING OF BY-LAWS
Moved by Councillor Hogg Seconded by Councillor Wallace
THAT the following listed by-law be given 1st, 2nd and 3rd readings, and
enacted:
4553-04.C BEING A BY-LAW to
Confirm Actions by
Council Resulting From
The Special Council
Meeting - Tuesday, June
22, 2004.
CARRIED
VI ADJOURNMENT
Moved by Councillor Kean
THAT the meeting be adjourned at 6:00 p.m.
CARRIED