Corporate Services Committee

Report

Meeting #:	8th Special Meeting of the Corporate Services Committee
Date:	Monday, March 25, 2019 at 3:00 P.m. - 4:00 P.m.
Location:	Council Chambers

PRESENT:

• Councillors J. Morgan (Chair),
• J. Helmer ,
• P. Van Meerbergen,
• A. Kayabaga,
• and S. Hillier

ABSENT:

• Mayor E. Holder

ALSO PRESENT:

• A.L. Barbon, B. Card, I. Collins, M. Galczynski, K. Murray, M. Ribera, M. Schulthess, S. Spring, and B. Westlake-Power

   

  The meeting is called to order at 3:00 PM.

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1.

Disclosures of Pecuniary Interest

That it BE NOTED that no pecuniary interests were disclosed.

2.

Consent

2.1

2019 Debenture Issuance Update

• 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.

  
  

  Yeas: (5)	J. Morgan, J. Helmer, P. Van Meerbergen, A. Kayabaga, and S. Hillier
  Absent: (1)	E. Holder

  
  Motion Passed (5 to 0)

2.2

Court Security and Prisoner Transportation Program Transfer Payment Agreement

• 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.

  
  

  Yeas: (5)	J. Morgan, J. Helmer, P. Van Meerbergen, A. Kayabaga, and S. Hillier
  Absent: (1)	E. Holder

  
  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.