BYLAW - Agency Agreement The One Investment Program - 20151027 - 576115THE CORPORATION OF THE TOWN OF AURORA
By-law Number 5761-15
BEING A BY-LAW to authorize The Corporation
of the Town of Aurora to enter into the Agency
Agreement, as defined herein, between CHUMS
Financing Corporation and Local Authority
Services Limited, as Agent, and Eligible
Investors with respect to "The One Investment
Program" and to authorize the Treasurer to
execute the necessary documents from time to
time for that purpose.
WHEREAS section 420 of the Municipal Act, 2001, S.O.2001, c.25, as amended, provides
that the power of a municipality to invest money includes the power to enter into agreement
with any other municipality, 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 The Corporation of the Town of Aurora (the `Town") proposes to enter
into a restated Agency Agreement dated as of March 1, 2010 (the "Agency Agreement")
between CHUMS Financing Corporation, a duly incorporated wholly -owned subsidiary of
the Municipal Finance Officers' Association of Ontario, and Local Authority Services
Limited, a duly incorporated wholly -owned subsidiary of the Association of Municipalities of
Ontario, as Agent, and Eligible Investors, as defined therein, to permit the Town to be an
investor through `The One Investment Program" for joint investments as set out in the
various schedules to the Agency Agreement (the "Portfolios");
AND WHEREAS the Council of the Town deems it to be in the interest of the Town to enter
into the Agency Agreement and to enrol in one or more of the One Investment Program
Portfolios;
AND WHEREAS the Treasurer of the Town has stated that the investment guidelines of
the Agent comply with the Town's investment policies and goals as stated in Report No.
CFS15-034 and approved by the Council of the Town on September 15, 2015;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF
AURORA ENACTS AS FOLLOWS:
1. The Treasurer is hereby authorized and directed to enter into and execute the
Agency Agreement and any other necessary documents, including without limitation,
enrolment documents and documents in connection with payment services for the
Portfolios, and to do anything necessary or desirable, initially and on an ongoing
basis, on behalf of the Town, to give effect to the purpose of the Agency Agreement,
and the Treasurer is hereby authorized to affix the corporate seal of the Town to the
Agency Agreement and any other documents which are necessary or desirable to
give effect to the Agency Agreement or to the purpose of the Agency Agreement.
2. THAT this By-law shall come into full force and effect on the date of final passage
hereof.
READ A FIRST AND SECOND TIME THIS 27' DAY OF OCTOBER 27, 2015.
READ A THIRD TIME AND FINALLY PASSED THIS 27' DAY OF OCTOBER, 2015.
A.pproz;eras to form
By Le a[Services
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GEOFFREY DAWE, MAYOR
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STEPHEN 9.A. HUYCKE, TOWN CLERK