That, on the recommendation of the Deputy City Manager, Finance Supports, the following actions be taken with respect to the 2023 City of London Debenture Issuance:
a) the issuance of serial debentures for a total of $21,500,000 BE APPROVED; it being noted that the average all-in rate is 3.881% over a 10-year term and that all debt has been placed with investors in the capital markets; and,
b) the proposed by-law as appended to the staff report dated April 24, 2023 as Appendix "A" BE INTRODUCED at the Municipal Council meeting on April 25, 2023 to execute the borrowing upon serial debentures in the aggregate principal amount of $21,500,000 towards the cost of certain capital works of the Corporation of the City of London.