HomeMy WebLinkAboutBRU 95 015 joint investors
THE CORPORATION OF THE TOWNSHIP OF BRUCE
BY-LAW NO. 95-15
.
TO AUTHORIZE The Corporation of
"Corporation") to invest money
investors in ontario through an
Treasurer to execute the necessary
the Township of Bruce (the
jointly with other eligible
agent and to authorize the
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, colI ege, uni versi ty , hospi ta I 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 one agent
through "ONE - The Public Sector Group of Funds" investment funds
for joint investments as set out in schedules to this Agreement (as
hereinafter defined) (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, the capital fund and the
reserve fund, as the Treasurer considers appropriate jointly with
other Eligible Investors through onè or more of the Funds;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWNSHIP OF
BRUCE ENACTS AS FOLLOWS:
1. The agreement made between CHUMS, LAS, and the Corporation and
other EI igibl e Investors (the "Agreement") is hereby
authorized substatially in the form made available to the
Council at its meeting held on the 25th day of April, 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 and to any other documents which are necessary
or desirable to give effect to the Agreement or to the
purpose.
THE CORPORATION OF THE TOWNSHIP OF BRUCE
BY-LAW NO. 95-15
PAGE 2
.
3.
The Treasurer is hereby authorized to invest, from time to
time, such amounts of money held in the general fund, the
capital 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.
4. That we hereby repeal By-law No. 93-8.
By-law introduced and read a First time this TWENTY-FIFTH day of
APRIL, 1995.
By-law read a second time this TWENTY-FIFTH day of APRIL, 1995.
By-law read a Third time and finally passed, signed, sealed, and
numbered 95-15 this TWENTY-FIFTH day of APRIL, 1995.
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CLERK
REEVE
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