BYLAW - Authorize Town of Aurora to Invest Money With Other Investors in Ontario - 19950524 - 363495FBY-LAW NUMBER 3634-95.F
OF THE MUNICIPAL CORPORATION OF THE TOWN OF AURORA
BEING A BY-LAW to authorize The Corporation of the
Town of Aurora (the "Corporation") to invest money
jointly with other eligible investors in Ontario through
an agent and to authorize the Treasurer to execute the
necessary documents for that purpose.
WHEREAS Section 167.4 of the Municipal Act provides that the power of a municipality to
invest money includes the power to enter into an agreement with any other municipality, and
with any school board, college, university, hospital or such other person or classes of them as
may be prescribed by regulation for the joint investment of money by those parties or their
agents:
AND WHEREAS CHUMS Financing Corporation ("CHUMS), a duly incorporated wholly-
owned subsidiary of the Municipal Finance Officers' Society of Ontario, and Local Authority
Services Limited ("LAS"), a duly incorporated wholly-owned subsidiary of the Association of
Municipalities of Ontario, provide as agent through "ONE-The Public Sector Group of Funds"
investment funds for joint investments as set out in schedules to the Agreement (as hereinafter
defmed) (the "Funds");
AND WHEREAS the Council of the Corporation deems it to be in the interest of the Corporation
to invest, from time to time, such amounts of money held in the general fund, and the reserve
fund, as the Treasurer considers appropriate jointly with other Eligible Investors through one or
more of the Funds;
NOW, THEREFORE the Council of the Corporation of the Town of Aurora ENACTS AS
FOLLOWS
1. The agreement made between CHUMS, LAS, the Corporation and other Eligible
Investors (the "Agreement") is hereby authorized substantially in the form made available
to the Council at its meeting held on the 24TH day of MAY, 1995.
2. The Treasurer is hereby authorized and directed to enter into and execute, as the sole
signing officer of the Corporation, the Agreement and any other necessary documents and
to do anything necessary or desirable, on behalf of the Corporation, to give effect to the
purpose, and the Treasurer is hereby authorized to affix the corporate seal of the
Corporation to the Agreement or to the purpose.
3. The Treasurer is hereby authorized to invest, from time to time, such amounts of money
held in the general fund, and the reserve fund as the Treasurer considers appropriate
through one or more of the Funds now available under the Agreement, as such Funds
may be amended or replaced from time to time, and one or more Funds that may
hereafter be provided under the Agreement from time to time, as such Funds may be
amended or replaced from time to time.
READ A FIRST AND SECOND TIME THIS 24th DAY OFMAYJ995.
READ A THIRD AND FINAL TIME AND FINALLY PASSED THIS 24TH DAY
OF MAY,1995.
IJ,J NUiaS0N J MtJNlG:VIlAll OIJ,Jl'M
GORDON J. WHICHER, DEPUTY CLERK/
SOLICIT