WHEREAS on June 17, 2005 the Government of Canada, Ontario and Ontario municipalities as represented by AMO, and the City of Toronto executed the Agreement for the Transfer of Federal Gas Tax Revenues under the New Deal for Cities and Communities Between Canada-Ontario-AMO-City of Toronto (referred to herein as "GTF Agreement");

AND WHEREAS the GTF Agreement includes specific provisions on the Gas Tax for Environmentally Sustainable Municipal Infrastructure to primarily support environmental sustainability objectives under Canada's New Deal for Cities and Communities;

AND WHEREAS The Regional Municipality of Peel has been allocated a total of $80,339,359.94 over the life of the MFA to be paid as follows:

	Payment Date	Amount
	November 2005	$9,641,928.98
	July 2006	4,820,964.49
	November 2006	4,820,964.49
	July 2007	6,427,234.92
	November 2007	6,427,234.92
	July 2008	8,033,505.36
	November 2008	8,033,505.35
	July 2009	16,067,010.71
	November 2009	16,067,010.72
	Grand Total	$80,339,359.94

AND WHEREAS sub-section 6.5 of the MFA permits The Regional Municipality of Peel to carry over unexpended funds into subsequent years in a reserve fund account and to apply any interest earned on the funds to eligible costs on eligible projects or to eligible administration costs related to the implementation of the MFA;

NOW THEREFORE be it resolved that the Council of The Regional Municipality of Peel hereby authorizes the establishment of a dedicated federal gas tax funds reserve fund account (R0025) into which all monies received by the Region from AMO under the MFA shall be deposited and used for eligible expenditures.

READ THREE TIMES AND FINALLY PASSED IN OPEN COUNCIL this 15th day of December, 2005.