Endorsement of Draft Articles of Incorporation and Shareholder Agreement for the Nanaimo Prosperity Corporation
Motion
It was moved and seconded that Council: 1. approve in principle the draft articles of incorporation and shareholder agreement for the Nanaimo Prosperity Corporation; 2. direct Staff to submit the articles of incorporation and shareholder agreement to the Inspector of Municipalities for approval; 3. delegate the Chief Administrative Officer to represent Council in discussions with the Inspector of Municipalities; and 4. direct Staff to return for Council’s final approval of the articles of incorporation and shareholder agreement following approvals by the Inspector of Municipalities and the respective Councils/Boards of the five shareholder organizations.