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THE CORPORATION OF THE COUNTY OF ESSEX BY -LAW NUMBER 47 -2003 A BY -LAW TO AUTHORIZE THE CORPORATION OF THE COUNTY OF ESSEX (THE "CORPORATION ") 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 "ONE — THE PUBLIC SECTOR GROUP OF FUNDS" AND TO AUTHORIZE THE TREASURER TO EXECUTE THE NECESSARY DOCUMENTS FOR THAT PURPOSE WHEREAS 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 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 the Corporation proposes to enter into an Agency Agreement dated as of May 31, 1999 (the "Agency Agreement ") between CHUMS Financing Corporation, a duly incorporated wholly -owned subsidiary of the Municipal Finance Officers' Society 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, and defined therein, to permit the Corporation to be an investor, through "ONE — The Public Sector Group of Funds" investment funds for joint investments as set out in schedules to the Agency Agreement (the "Funds "); AND WHEREAS the Council of the Corporation deems it to be in the interest of the Corporation to enter into the Agency Agreement and to enroll in the Funds; NOW THEREFORE the Council of the Corporation of the County of Essex enacts as follows: 1. The Agency Agreement is hereby authorized substantially in the form made available to the Council at its meeting held on the 19 day of November, 2003.