WHEREAS 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 agent;

AND WHEREAS the Regional 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, as defined therein, to permit the Regional 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 Regional Corporation deems it to be in the interest of the Regional Corporation to enter into the Agency Agreement and to enroll in the Funds;

NOW THEREFORE, the Council of The Regional Municipality of Peel 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 20th of March, 2008.
   
   
2. The Senior Treasury and Portfolio Manager is hereby authorized to give investment, withdrawal or transfer instructions confirming that all necessary actions have been taken by the Regional Corporation as an eligible investor to authorize such persons to give investment, withdrawal or transfer instructions.
   
   
3. The Chief Financial Officer is hereby authorized and directed to enter into and execute the Agency Agreement and any other necessary documents, including without limitation, enrolment documents and documents in connection with payment services for the Fund, and to do anything necessary or desirable, on behalf of the Regional Corporation, to give effect to the purpose, and the Regional Clerk is hereby authorized to affix the corporate seal of the Regional Corporation to the Agency Agreement and to any other documents which are necessary or desirable to give effect to the Agency Agreement or to the purpose.

READ THREE TIMES AND PASSED IN OPEN COUNCIL this 27^th day of March, 2008.