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3044-93MuniJointInvestments (4)
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3044-93MuniJointInvestments (4)
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7/4/2012 2:55:10 PM
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8/12/2002 2:17:51 PM
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
3/24/1993
C - Council, Boards and By-laws - Department
Administration
C - Council, Boards and By-laws - Description
A by-law to authorize the corporation to invest money jointly with other municipalities through an agent of the muncicipalities
C - Council, Boards and By-laws - Bylaw No
3044-93
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By-law
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THE CORPORATION OF THE COUNTY OF ESSEX <br /> <br /> BY-LAW NUMBER 3044 <br /> <br />A BY-LAW TO AUTHORIZE THE CORPORATION TO INVEST <br />MONEY JOINTLY WITH OTHER MUNICIPALITIES THROUGH <br />AN AGENT OF THE MUNICIPALITIES. <br /> <br />WHEREAS the Corporation may, under The Municipal Act, R.S.O. <br />1990, c. M.45, Section 167.4, where it has the power to <br />invest money and, except as otherwise restricted by The <br />Municipal Act, invest money jointly with other municipalities <br />through an agent; <br /> <br />AND WHEREAS Local Authority Services Ltd. (LAS), a duly <br />incorporated wholly-owned subsidiary of the Association <br />of Municipalities of Ontario, provides services of various <br />kinds to municipalities, including the establishment of <br />investment pools for joint investments by or on behalf of <br />Ontario municipalities; <br /> <br />AND WHEREAS the Council of the Corporation deems it in the <br />interest of the Corporation to invest its money from time <br />to time jointly with other municipalities in one or more <br />investment pools established by LAS in accordance with the <br />terms and conditions of the proposal of LAS, a copy of which <br />is annexed hereto (the Proposal), and to appoint LAS as <br />its agent for such purpose; <br /> <br />NOW, THEREFORE, THE COUNCIL OF THE CORPORATION OF THE COUNTY <br />OF ESSEX ENACTS AS FOLLOWS: <br /> <br />The Corporation of the County of Essex is hereby <br />authorized to invest its money, from time to time, <br />subject to the investment provisions of The Municipal <br />Act, jointly with other municipalities in one or <br />more investment pools established by LAS in accordance <br />with the terms and conditions set out in the Proposal <br />and to appoint LAS as its agent for such purposes <br />and to enter into an agreement with LAS in connection <br />therewith. <br /> <br />The Treasurer of the Corporation is hereby authorized <br />and directed to sign for and on behalf of the <br />Corporation such agreements, authorizations, <br />directions, approvals and other such documents as <br />may be necessary or desirable to give effect to the <br />investing powers authorized by Section 1. <br /> <br />.... Cont'd. <br /> <br /> <br />
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