According to TechStuff.ca and Folklore.org the Toronto font came about when:

One day Steve Jobs stopped by the software group, as he often did at the end of the day. He frowned as he looked at the font names on a menu. "What are those names?", he asked, and we explained about the Paoli Local.

"Well", he said, "cities are OK, but not little cities that nobody's ever heard of. They ought to be WORLD CLASS cities!"

So that is how Chicago (Elefont), New York, Geneva, London, San Francisco (Ransom), Toronto, and Venice (Bill Atkinson's script font) got their names.

That was back in 1983.