March 25, 2019, at 3:00 PM
Present:
J. Morgan, J. Helmer, P. Van Meerbergen, A. Kayabaga, and S. Hillier
Absent:
E. Holder
Also Present:
A.L. Barbon, B. Card, I. Collins, M. Galczynski, K. Murray, M. Ribera, M. Schulthess, S. Spring, B. Westlake-Power
Remote Attendance:
The meeting is called to order at 3:00 PM.
1. Disclosures of Pecuniary Interest
That it BE NOTED that no pecuniary interests were disclosed.
2. Consent
2.1 2019 Debenture Issuance Update
2019-03-25 Staff Report - 2019 Debenture Issuance Update
2019-03-25 Staff Report - 2019 Debenture Issuance Update-Presentation
Moved by S. Hillier
Seconded by J. Helmer
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, the following actions be taken:
a) the issuance of serial debentures for a total of $49,380,000 BE APPROVED; it being noted the average all-in rate is 2.655% over a 10-year term; and
b) the proposed by-law appended to the staff report dated March 25, 2019 BE INTRODUCED at the Municipal Council meeting on March 26, 2019, to authorize the borrowing upon serial debentures in the aggregate principal amount of $49,380,000 towards the cost of certain capital works of The Corporation of the City of London;
it being noted that the Corporate Services Committee received the attached presentation from M. Khan and K. Martin (RBC), with respect to this matter.
Vote:
Yeas: Absent: J. Morgan E. Holder J. Helmer P. Van Meerbergen A. Kayabaga,S. Hillier
Motion Passed (5 to 0)
2.2 Court Security and Prisoner Transportation Program Transfer Payment Agreement
2019-03-25 Staff Report - Court Security and Prisoner Transportation
Moved by J. Helmer
Seconded by A. Kayabaga
That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, the proposed by-law appended to the staff report dated March 25, 2019 as Appendix “A” BE INTRODUCED at the Municipal Council meeting on March 26, 2019 to approve the Ontario Transfer Payment Agreement for the Court Security and Prisoner Transportation Program with Her Majesty the Queen in right of Ontario as represented by the Minister of Community Safety and Correctional Services and The Corporation of the City of London; and to authorize the Mayor and the City Clerk to execute the Agreement.
Vote:
Yeas: Absent: J. Morgan E. Holder J. Helmer P. Van Meerbergen A. Kayabaga,S. Hillier
Motion Passed (5 to 0)
3. Scheduled Items
None.
4. Items for Direction
None.
5. Deferred Matters/Additional Business
None.
6. Adjournment
The meeting adjourned at 3:18 PM.