The name Toronto comes from the Mohawk term tkaronto, meaning "where there are trees standing in the water."(1) This proposal makes reference to that meaning as well as the city's status as provincial capital and Canada's meeting place, using the colours and "T" motif of the city's coat of arms(2) along with three gold maple leaves from the provincial coat of arms(3). It is a simple yet traditional heraldic design with multiple layers of meaning.
Sources:
(1) http://geonames.nrcan.gc.ca/education/toronto_e.php
(2) http://en.wikipedia.org/wiki/Coat_of_Arms_of_Toronto
(3) http://en.wikipedia.org/wiki/Coat_of_arms_of_Ontario
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