May 2, 2022, at 12:00 PM
Present:
S. Lewis, M. Cassidy, J. Morgan, M. Hamou, J. Fyfe-Millar
Absent:
E. Holder
Also Present:
A. Job, J. Taylor, B. Westlake-Power
Remote Attendance:
S. Hillier, L. Livingstone, A. Barbon, B. Card, S. Corman, J. Davison, M. Galczynski, K. Murray, M. Schulthess
The meeting is called to order at 12:00 PM; it being noted that Councillors M. Cassidy and M. Hamou were in remote attendance.
1. Disclosures of Pecuniary Interest
That it BE NOTED that no pecuniary interests were disclosed.
2. Consent
None.
3. Scheduled Items
None.
4. Items for Direction
4.1 2022 Debenture Issuance Update
2022-05-02 SR - Debenture Issuance Update
Moved by J. Morgan
Seconded by J. Fyfe-Millar
That, on the recommendation of the Deputy City Manager, Finance Supports, the following actions be taken with respect to the 2022 Debenture Issuance:
a) the issuance of serial debentures for a total of $21,000,000 BE APPROVED, noting the average all-in rate is 3.563% over a 10-year term; and,
b) the proposed by-law as appended to the staff report dated May 2, 2022 as Appendix “A” BE INTRODUCED at the Municipal Council meeting on May 3, 2022 to authorize the borrowing upon serial debentures in the aggregate principal amount of $21,000,000 towards the cost of certain capital works of the Corporation of the City of London;
it being noted that the Corporate Services Committee received a presentation from Kevin Martin and Chris Meston (RBC), with respect to this matter.
Vote:
Yeas: Absent: M. Cassidy E. Holder J. Morgan S. Lewis J. Fyfe-Millar,M. Hamou
Motion Passed (5 to 0)
5. Deferred Matters/Additional Business
None.
6. Adjournment
Moved by M. Cassidy
Seconded by M. Hamou
The meeting BE ADJOURNED.
Motion Passed
The meeting adjourned at 12:10 PM.