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By-law No. 1998-005 CORPORATION OF THE MUNICIPALITY OF BAYHAM BY-LAW NO. 98-05 BEING A BY-LAW TO AUTHORIZE THE CORPORATION OF THE MUNICIPALITY OF BAYHAM(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 Municipality 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 def ned as the "Funds"); AND WHEREAS the Council of the Corporation of the Municipality of Bayham 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 one or more of the Funds; THEREFORE THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF BAYHAM ENACTS AS FOLLOWS: 1. THAT the agreement appended to and forming part of this by-law, 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 5th clay of January, 1998. 2. AND THAT the Treasurer is hereby authorized and directed to enter and execute,as the sole signing officer for 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. 3. AND THAT 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. BY-LAW NO.98-05 Page 2 READ A FIRST AND SECOND TIME this 5th day of January, 1998. READ A THIRD TIME AND FINALLY PASSED this 5th day of January, 1998. 1�IAYOR CL RK