Corporate Services Committee

Report

8th Special Meeting of the Corporate Services Committee
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Council Chambers - Please check the City website for additional meeting detail information. Meetings can be viewed via live-streaming on YouTube and the City Website.
The City of London is situated on the traditional lands of the Anishinaabek (AUh-nish-in-ah-bek), Haudenosaunee (Ho-den-no-show-nee), Lūnaapéewak (Len-ah-pay-wuk) and Attawandaron (Add-a-won-da-run).
We honour and respect the history, languages and culture of the diverse Indigenous people who call this territory home. The City of London is currently home to many First Nations, Métis and Inuit today.
As representatives of the people of the City of London, we are grateful to have the opportunity to work and live in this territory.
PRESENT:
  • Councillors S. Lewis (Chair), 
  • H. McAlister, 
  • S. Stevenson, 
  • S. Trosow, 
  • and D. Ferreira 
ABSENT:
  • Mayor J. Morgan 
ALSO PRESENT:

  • Councillor J. Pribil; L. Livingstone, A. Barbon, M. Galczynski, A. Job, K. Murray, B. Westlake-Power

    Remote attendance: B. Card, S. Corman

    The meeting is called to order at 12:00 PM.

     

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
2023 Debenture Issuance Update

This item has attachments. 
1.2023-04-24 Staff Report - 2023 Debenture Issuance Update.pdf
  • Moved by:S. Trosow
    Seconded by:S. Stevenson

    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.


    Yeas: (5)S. Lewis, H. McAlister, S. Stevenson, S. Trosow, and D. Ferreira
    Absent: (1)Mayor J. Morgan


    Motion Passed (5 to 0)

5.
Deferred Matters/Additional Business

 

None.

6.
Adjournment

 
  • Moved by:H. McAlister
    Seconded by:S. Stevenson

    That the meeting BE ADJOURNED.



    Motion Passed

    The meeting adjourned at 12:04 PM.


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