SFSS: Special General Meeting

The SFSS will be holding a Special General Meeting (SGM) on Wednesday, January 21st, 2015.

Click here to download the SGM Agenda

Click here to download our info sheet on the FBS question

We conduct our meetings according to Robert’s Rules, click here to download our “Robert’s Rules at a Glance” handout.

Event Details:
Wednesday, January 21st, 2015
Registration opens at 12:30pm
Meeting starts at 1:30pm
Location: West Gym, Burnaby Campus

At this Special General Meeting, there will be two very important decisions regarding the Build SFU project which are as follows:

1. Build SFU Project Debenture
a. Whereas The Simon Fraser Student Society (the “Society”) and Simon Fraser University (“SFU”) have agreed to enter into a project (the “Project”) for the construction of a new student union building and stadium on SFU’s Burnaby campus.

b. Whereas a referendum was passed by the members of the Society (the “Members”) on March 22, 2012 in favour of the development of the Project.

c. Whereas the Society will need to borrow money from third parties to fund the development of the Project and is seeking such financing on the best available terms. In order to obtain such funding, the Society may be required to grant or issue security, in the form of a debenture, promissory note, mortgage, general security agreement or other security instrument, for the repayment of any amount so borrowed.

d. Whereas the Society’s by-laws (the “By-laws”) provide that its directors (the “Directors”) may, for the purpose of carrying out the purposes of the Society, borrow, raise or secure the repayment of money and may authorize the issuance of security on the whole or part of the property or assets of the Society, present and future, including Society fees now or hereafter due or payable, except that no debenture shall be issued without sanction of a special resolution.

e. Whereas the Society Act (B.C.) similarly requires that any issuance of a debenture by the Society be approved by the Members by special resolution and permits the Members to grant a general power on the Directors to issue debentures for a period of one year from the date on which such resolution was passed.

f. Whereas it is expedient for the purposes of facilitating the Project that the Members exercise the authority conferred upon them under Society Act (B.C.) and the By-laws by giving the Directors the authority to borrow such amounts as may be required in order to pursue the Project and to secure the repayment of such borrowing in the manner that the Directors see fit.

Be it resolved by special resolution that:

1. The Directors are hereby authorized, for a period of one year from the date hereof, on behalf of the

Society, to borrow from such persons, firms, corporations, societies, co-operatives, credit unions, trust companies, banks or other lenders as they deem desirable, such amounts as are determined reasonable or necessary by the Directors for the purposes of the Project, on such terms as the Directors may from time to time approve.

2. The Directors are hereby further authorized, for a period of one year from the date hereof, on behalf of the Society, to secure repayment of any and all borrowing in such manner as the Directors consider to be in the best interests of the Society, including, without limitation, by the creation, granting and/or issuance of debentures, promissory notes, mortgages, general security agreements and such other security instruments charging all or any portion of the real or personal property of the Society, all on such terms as the Directors may from time to time approve, without further authorization from the Members.

3. Any two Directors or officers of the Society are hereby authorized to execute on behalf of the Society, under seal or otherwise, any agreement, debenture, mortgage, security agreement or other instrument that such person deems necessary or desirable to effect any borrowing by the Society or to give and perfect any security granted by the Society.

2. SFSS Bylaw Addition

Be it resolved that the following By-law be created and accepted as presented:

The Society may not revoke, reduce or otherwise cancel a duly approved student society fee that has been implemented for the purpose of repaying a loan made to the Society or on the basis of which a loan has been made to the Society if the effect of such revocation, reduction or cancellation would be to cause the Society to be unable to repay the loan as it became due.
The agenda will also include the following non-binding questions:

3. Greek Letter Organizations
Whereas in 2008 a non-binding plebiscite question was posed asking if students were in favour of Simon Fraser University rescinding its ban towards on and off campus Fraternities and Sororities;
Whereas the question passed with 56.95% in favour,
Whereas the SFSS cannot house Greek Letter Organizations as clubs due to policy and insurance restraints;
Whereas since 2008 five Greek Letter Organizations have been established at SFU under the SFSS club Greek Representation and Interest Development (GRID);
Whereas the established Greek Letter Organizations have been working with the SFSS in order to communicate with the membership,
Whereas the November 6th, 2014 town hall constitutes an open dialogue venue between the general membership and students involved with Greek Letter Organizations;
Whereas Greek Letter Organizations seek the opinion of the general membership;

Are you in favour of having Greek Letter Organizations at Simon Fraser University?

4. SFSS Food and Beverage Service
Whereas the Food and Beverage Services (FBS) is comprised of the Highland Pub, The Higher Grounds Coffee Shop, The Ladle vegetarian restaurant, and catering services;
Whereas this is a nonbinding opinion poll;
Whereas the SFSS is interested in seeking the membership’s opinion;
Are you in favour of continuing to operate the Food and Beverage Services?

This is your opportunity to take part in your community and provide your voice to your student society.

If you have any questions, please feel free to contact Zied Masmoudi (VP Student Services) at vpservices@sfss.ca.