A by-law to authorize the amendment of a Supplementary Downsizing Agreement under the Ontario Municipal Employees Retirement System ("System").

WHEREAS pursuant to the Supplementary Benefits provisions of the Regulation made under the Ontario Municipal Employees Retirement System Act, R.S.O. 1990, c. O.29, as amended, an employer who has elected to participate in the System may enter into or amend an agreement with the Ontario Municipal Employees Retirement Board for the payment of Supplementary Downsizing Benefits in respect of all or any class of the employees who are or become members of the System;

AND WHEREAS The Regional Municipality of Peel has entered into a Supplementary Downsizing Agreement with the Ontario Municipal Employees Retirement Board, authorized by By-law 21-95, as amended, on August 10, 1995;

AND WHEREAS it is deemed advisable to amend the said Supplementary Downsizing Agreement;

AND WHEREAS the Council of the Regional Corporation has by resolution on 14th September, 1995 authorized the amendment of a Supplementary Downsizing Agreement under the Ontario Municipal Employees Retirement System ("System");

NOW THEREFORE the Council of the Regional Corporation enacts as follows:

1. The Regional Solicitor and the Deputy Clerk are hereby authorized on behalf of The Regional Municipality of Peel to enter into Amending Agreement No. 1 in the form attached hereto with the Ontario Municipal Employees Retirement Board.

2. The Chief Administrative Officer is hereby authorized to do such things as are necessary to carry out the intent of the By-law.

3. A Certified Copy of this By-law shall be filed with the President of the Ontario Municipal Employees Retirement Board.

4. This By-law shall come into force on the day of its passing.

READ THREE TIMES AND FINALLY PASSED IN OPEN COUNCIL this 14th September, 1995.

Regional Clerk, Regional Chair