Administration Finance Committee

Resolved that Report FIN 16-19 dated June 8, 2016 regarding the 2015 Water System Statement of Operations be received, and That the 2015 water deficit of $5,383 be funded from the Water Reserve.

Resolved the Report FIN 16-20 dated June 8, 2016 regarding the Property Revitalization Tax Increment Grant Program Review be received.

Resolved that Report FIN 16-21 dated June 8, 2016 regarding the Delegation of Bank Signing Authorities be received, and That a by-law be authorized to designate signing authorities on behalf of the Town of Grimsby for banking purposes.

Resolved that Report FIN 16-22 dated June 9, 2016 regarding the 2015 Portfolio Investments be received.

Resolved that Report TM-16-02 dated June 10, 2016 regarding Development Charges be received and that the Recommendation contained therein be approved.

Resolved that the Mayor and Treasurer be authorized to enter into a loan agreement with Grimsby Energy Inc. with the following terms: Amount of loan: $600,000. Annual interest rate: 2.0% Term: 120 days Default rate: 5.0% Payable on demand Shareholders meeting before the end of June, 2016. Third Party Review, selected by Council. RECORDED VOTE: Yes: Mayor B. Bentley, Alderman J. Dunstall, Alderman C. Mullins No: Alderman D. Kadwell

Resolved that Committee meet in Closed Session under Sec. 239(2)(d) of the Municipal Act 2001, labour relations or employee negotiations Document of Working Conditions, Salary Group - Update to document

Resolved that Committee return to Open Session.

Resolved that the Report TM 16-03 dated June 20, 2016 be received and that the Document of General Working Conditions for all Salaried Employees of the Town of Grimsby be forwarded to Council for approval as Schedule A to By-law 16-36.