THE PEEL NON-PROFIT HOUSING CORPORATION

BY-LAW NUMBER 3-77

A BY-LAW AUTHORIZING THE PRESIDENT AND SECRETARY TO EXECUTE A MORTGAGE AGREEMENT WITH CENTRAL MORTGAGE AND HOUSING CORPORATION AND AUTHORIZING THE PRESIDENT TO SIGN A LETTER AGREEING TO THE TERMS AND CONDITIONS OF THE LOAN FROM CENTRAL MORTGAGE AND HOUSING CORPORATION.

 

WHEREAS the Board of Directors of the Peel Non-Profit Housing Corporation has, by resolution 77-16 authorized the President and the Secretary to execute a mortgage Agreement dated November 10, 1977, between the Central Mortgage and Housing Corporation and the Peel Non-Profit Housing Corporation;

AND WHEREAS the Board of Directors of the Peel Non-Profit Housing Corporation has, by resolution 77-17 authorized the President to sign a letter, dated November 10, 1977 from the Program Manager, Social Housing, Toronto Branch, Central Mortgage and Housing Corporation. Thereby agreeing to the terms and conditions of the loan as stipulated in the aforementioned letter;

NOW THEREFORE, the Members of the Peel Non-Profit Housing Corporation enact as follows:

1. That the President and Secretary be authorized to execute a mortgage Agreement dated November 10, 1977, between Central Mortgage and Housing Corporation and the Peel Non-Profit Housing Corporation.

2. That the President be authorized to sign a letter dated November 10, 1977, from the Program Director, Social Housing, Toronto Branch, Central Mortgage and Housing Corporation thereby indicating agreement with the terms of the loan as stipulated in the aforementioned letter.

 

ENACTED this 15th day of November, 1977.

President Secretary