That the Newmarket – Tay Power Distribution Ltd. Report of the President dated November 6, 2019 regarding the process for a director search for the board of directors of Newmarket – Tay Power Distribution (“NT Power”) be received and the following recommendations be adopted:
Whereas the existing NT Power Board of Directors consists of four Non-Municipal appointees, the Mayor of Newmarket, the Mayor of Tay and the President of NT Power; and,
Whereas a new strategic framework developed by NT Power in 2018 recommended that the Board of Directors be comprised of five Non-Municipal Directors, the Mayor of Newmarket and the Mayor of Tay; and,
Whereas the Municipal Council of the Town of Newmarket and the Municipal Council of the Township of Tay approved the new composition of the NT Power Board of Directors in May of 2018; and,
Whereas in accordance with Article 3 of the NT Power Shareholders Agreement, the NT Power Board of Directors (the “Board”), with input from the professional recruiting firm of Boydens has identified a list of candidates from which to select a nominee to be appointed as the fifth Non-Municipal Director at the next NT Power annual general meeting;
Now therefore be it resolved by the Municipal Council of the Corporation of the Town of Newmarket as follows:
- That the Mayor, one Councillor to act as Committee Chair and one Councillor to act as a Committee member be appointed to an ad-hoc joint committee of the Councils of the Town of Newmarket and the Township of Tay (the “Joint Committee”) for the express purposes of considering the list of candidates for the fifth Non-Municipal Director.