MINUTES - Special Council - 20050324
TOWN OF AURORA
SPECIAL MEETING OF THE SHAREHOLDER OF
BOREALIS HYDRO ELECTRIC HOLDINGS INC.
NO. 05-13
Council Chambers
Aurora Town Hall
Thursday, March 24, 2005
ATTENDANCE
COMMITTEE MEMBERS Deputy Mayor Morris in the Chair; Councillors Buck,
Gaertner, Kean, Vrancic, Wallace and West
REPRESENTING THE SHAREHOLDER; THE
CORPORATION OF THE TOWN OF AURORA
MEMBERS ABSENT Councillor Hogg and Mayor Jones were absent.
OTHER ATTENDEES Chief Administrative Officer, Director of Corporate
Services/Town Clerk.
Deputy Mayor Morris called the meeting to order at 10:00 a.m.
I DECLARATIONS OF PECUNIARY INTEREST
There were no declarations of pecuniary interest under the Municipal Conflict of
Interest Act.
II CONSIDERATION OF ITEMS REQUIRING SEPARATE DISCUSSION
Moved by Councillor Vrancic Seconded by Councillor Kean
THAT the notice provisions with respect to this Special Meeting of the
Shareholder be waived.
CARRIED
Moved by Councillor Vrancic Seconded by Councillor Kean
WHEREAS under the Ontario Business Corporation Act the Council of the
Town of Aurora has a Shareholder Declaration with respect to the Borealis
Hydro Electric Holding Inc.;
NOW THEREFORE it is recommended that the Shareholder Declaration
be amended to provide for the removal of all powers of the current Board
of Directors and investing these powers and decision making authority
with the Shareholder.
CARRIED
Special Meeting of the Shareholder of Page 2 of 2
Borealis Hydro Electric Holdings Inc.
No. 05-13 – Thursday March 24, 2005
Moved by Councillor Vrancic Seconded by Councillor Kean
THAT the Mayor or the Deputy Mayor be authorized as the signing officer
on behalf of the shareholder.
CARRIED
III READING OF BY-LAWS
Moved by Councillor West Seconded by Councillor Kean
THAT the following listed by-law be given 1st, 2nd and 3rd readings, and
enacted:
4657-05.C BEING A BY-LAW to
Confirm Actions by
Council Resulting From
The Special Council
Shareholder Meeting –
Thursday March24, 2005.
CARRIED
VI ADJOURNMENT
Moved by Councillor Vrancic
THAT the meeting be adjourned at 10:05 a.m.
CARRIED
____________________________________ _______________________________
P. MORRIS, DEPUTY MAYOR B. PANIZZA, TOWN CLERK