CAPTR

Report on WRAFT Annual Meeting Held on November 22, 2008

Draft minutes of WRAFT Annual Meeting

The Annual Meeting was again held after the FOCA Fall Seminar and was followed by a Town Hall meeting which included representatives of the three major Ontario political parties. Below are the draft minutes of the Annual Meeting.

MINUTES of the Annual General Meeting of the members of WATERFRONT RATEPAYERS AFTER FAIR TAXATION INC. [hereinafter called "WRAFT" ] held at the Sheraton Parkway North Hotel, Highways 404 and 7, Richmond Hill, Ontario at 3:00 pm on November 22, 2008.

The Chairman of WRAFT , Cliff Hatch, acted as Chairman of the meeting and the Secretary , Ron Booth, as Secretary.

Notice of Meeting

The Chairman read the Notice of Meeting and advised it had been sent to all members. The Secretary was directed to file a copy of the notice with the minutes and the meeting was declared to be regularly constituted.

Approval of Minutes

The Chairman asked for a motion to dispense with he reading of the minutes of the meeting of members held November 24, 2007 and on motion duly made and seconded it was unanimously resolved the minutes be approved.

Approval of Financial Statements

Unaudited financial statements of WRAFT FOR THE PERIOD FROM February 18,2004 to September 30, 2008 were circulated and reviewed. It was noted that funds on hand at the end of the fiscal year were down to $26,500. On motion duly made and seconded it was unanimously resolved that the financial statements for the period ending September 30, 2008 be approved and that an audit of the statements be dispensed with. The Secretary was directed to file a copy of the statements with the minutes.

Approval of Acts of Directors and Officers

On motion duly made and seconded it was unanimously resolved that all acts, contracts, by-laws, proceedings, appointments, elections and payments enacted, made, done and taken by the Directors and Officers of WRAFT for the fiscal year ended September 30, 2008 be approved.

Election of Directors

The Chairman advised the meeting it was in order to proceed with the election of directors of WRAFT for the ensuing year and called for nominations. The following were nominated : Gary Atkins, Tom Beer, Doug Bryden, David Bull, Guy Crombie, Mike Hasley, Cliff Hatch, Jack Hignell, Al Morson, Scott Mortimer, Mary Neal, Peter Oakes, Terry Rees, Bill Rowat and Bob Topp.

There being no further nominations the Chairman declared nominations closed and, with the consent of the meeting, directed that a single ballot be cast for the election of the foregoing as directors of WRAFT.

Such ballot having been cast the Chairman declared the foregoing to have been duly elected as directors of WRAFT for the ensuing year or until their successors are elected or appointed.

Executive Director's Report

The Executive Director, Bob Topp, reported on the activities of WRAFT during the past year and cautioned that in view of the small bank balance it might be necessary to raise new funds dependant on the level of activity of WRAFT in the coming year.

The Executive Director thanked everyone for their assistance over the last four years.

Chairman's Report

The Chairman announced that Bob Topp was retiring as Executive Director and that it was proposed that Terry Rees succeed him. The Chairman thanked Bob for all his efforts over the last four years on behalf of WRAFT.

The Chairman concluded by urging all present to sign the WRAFT online petition and to make written and in person representations on WRAFT's position to their MPP's.

There being no further business the meeting terminated.

December 10, 2008