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.