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February 7, 2002
Mayor Mel Lastman Calls for MFP Public Inquiry
  
TORONTO - Mayor Mel Lastman today called for a public inquiry into the City's
dealings with MFP Financial Services Ltd. Mayor Lastman was briefed by Chief
Administrative Officer Shirley Hoy regarding additional issues in City of
Toronto contracts with MFP Financial.

"New information has been brought to my attention regarding past actions taken
by staff," said Mayor Lastman. "I want to do everything in our power to protect
our taxpayers. A public inquiry will ensure full disclosure of all matters
between our staff and MFP Financial Services Ltd."

Mayor Lastman has asked Councillors Bas Balkissoon, Betty Disero, David Miller,
Case Ootes and Denzil Minnan-Wong to develop the terms of reference for a
public inquiry and that those terms of reference be brought to Toronto City
Council by February 13, 2002. The five councillors will develop the terms of
reference with the CAO, the City Auditor and the City Solicitor. Mayor Lastman
has asked the CAO to convene a meeting of this group immediately.

"A full disclosure of all the facts is the only way the public and members of
council can feel confident that no stone has been left unturned in this
investigation," said Lastman. "It is essential to protect our taxpayers and
have a full public inquiry at this time."

A full report is being brought forward to the Audit Committee by the CAO.


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