PEEL NON-PROFIT HOUSING CORPORATION

BY-LAW NUMBER 2-93

A by-law to amend By-law Number 1 as amended by By-law Number 2-85 relating to the execution of Documents by Peel Non-Profit Housing Corporation.

 

NOW THEREFORE BE IT ENACTED as a by-law of the Corporation that:

1.Sections 2.04.01 and 2.04.02 of By-law Number 1, as amended by By-law Number 2-85 be repealed and the following substituted therefore:

2.04.01Execution of Documents - subject to all approvals being previously obtained, the following documents, namely:

(i)Purchase and Sale Agreements for land

(ii)Construction Contracts

(iii) Mortgages or Charges of both real and personal property

(iv) Debentures

(v) By-laws and Directors' Resolutions

and all related documents, may be executed on behalf of the Corporation by any two of the holders of the office of President, Vice-President, General Manager, Secretary and Treasurer and any one of the two signing officers may affix the Corporate Seal to the document at the time it is signed.

2.04.02 Execution of Routine Documents - subject to all normal approvals and delegations being previously obtained or made, all other documents may be signed by the holder of the office of General Manager or by any person on the staff of the Corporation to whom the General Manager has delegated his signing authority in writing, prior to signature of the document, and the General Manager or the delegate may affix the Corporate Seal to the document at the time of the signature.

 

DULY PASSED AND ENACTED at a meeting of the Directors of the Corporation, duly held on the 5th day of October, 1993.

President, Secretary