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That, on the recommendation of the Managing
Director, Corporate Services and City Treasurer, Chief Financial Officer
& Acting City Manager, the following actions be taken with respect to the
2017 debenture issue:
a) the
issue of serial debentures for a total of $41,000,000 BE APPROVED, noting the
average all-in-rate is 2.48% over a 10-year term; and
b) the
proposed by-law appended to the staff report dated March 1, 2017 BE
INTRODUCED at the Municipal Council meeting of March 2, 2017, to authorize
the borrowing upon serial debentures in the aggregate principal amount of
$41,000,000, toward 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 Paul Belanger,
Managing Director, Government Finance and Mansoor Khan, Vice President,
Government Finance, TD Securities regarding the debenture issuance and
general market conditions and forecasts.
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