That, on the recommendation of the Deputy City Manager, Finance Supports the following actions be taken:
a) the proposed by-law as appended to the staff report dated November 9, 2021 as Appendix “A” BE INTRODUCED to:
i) approve the Credit Agreement, substantially in the form attached, between the Canada Mortgage and Housing Corporation, London and Middlesex Community Housing Inc. and The Corporation of the City of London (the “Credit Agreement”);
ii) approve the Guarantee, substantially in the form attached to the staff report, between the Canada Mortgage and Housing Corporation and The Corporation of the City of London (the “Guarantee”);
iii) approve the Operating Agreement, substantially in the form attached to the staff report, between the Canada Mortgage and Housing Corporation, London and Middlesex Community Housing Inc. and The Corporation of the City of London (the “Operating Agreement”);
iv) approve the Certificate of Officer, substantially in the form attached to the staff report, for the City of London (the “Certificate of Officer”);
v) authorize the City Treasurer to approve any amendments to the Credit Agreement, Guarantee, Operating Agreement and Certificate of Officer prior to the execution by the Mayor and City Clerk;
vi) authorize the Mayor and the City Clerk to execute the Credit Agreement, the Guarantee, and the Operating Agreement;
vii) authorize the City Treasurer to execute the Certificate of Officer;
viii) delegate authority to the Deputy City Manager, Finance Supports to approve further agreements, documents or forms required by the Canada Mortgage and Housing Corporation;
ix) authorize the Mayor and the City Clerk to execute any further agreements, documents or forms required by the Canada Mortgage and Housing Corporation and approved by the Deputy City Manager, Finance Supports;
(x) authorize the Deputy City Manager, Finance Supports (or delegate) to execute any financial reports required under the Credit Agreement, the Guarantee, the Operating Agreement, and the Certificate; and,
xi) authorize the Civic Administration to undertake all administrative acts required in connection with these agreements;
b) the proposed by-law as appended to the staff report dated November 9, 2021 as Appendix “B” BE INTRODUCED to:
i) ratify the Resolution of the Shareholder of London & Middlesex Community Housing Inc. to approve the borrowing under the Credit Agreement among London & Middlesex Community Housing Inc., the Corporation of the City of London, and Canada Mortgage Housing Corporation and the Operating Agreement among the Canada Mortgage Housing Corporation, London & Middlesex Community Housing Inc. and The Corporation of the City of London, and the granting of security under the Account Security Agreement between London & Middlesex Community Housing Inc. and Canada Mortgage Housing Corporation; and
ii) authorize the Mayor and City Clerk to execute the Resolution of the Shareholder.