Corporate Services Committee

Report

6th Special Meeting of the Corporate Services Committee
-
2021 Meeting - Virtual Meeting during the COVID-19 Emergency
Please check the City website for current details of COVID-19 service impacts.
Meetings can be viewed via live-streaming on YouTube and the City website
PRESENT:
  • Councillors M. Cassidy (Chair),
  • M. van Holst,
  • J. Morgan,
  • E. Peloza,
  • A. Kayabaga,
  • and Mayor E. Holder
ALSO PRESENT:
  • Remote Attendance: Councillors S. Hillier; L. Livingstone, B. Card, M. Galczynski, K. Murray, M. Ribera, C. Saunders, M. Schulthess, B. Westlake-Power

    The meeting is called to order at 12:00 PM; it being noted that Councillor M. van Holst was in the Chair and that the following Members were in remote attendance: Mayor E. Holder; Councillors M. Cassidy, J. Morgan, E. Peloza and A. Kayabaga.


That it BE NOTED that no pecuniary interests were disclosed. 

None.

  • Moved by:M. Cassidy
    Seconded by:E. Peloza

    That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, the following actions be taken with respect to the 2021 Debenture Issuance:

    a)      the issuance of serial debentures for a total of $23,000,000 BE APPROVED, noting the average all-in rate is 1.819% over a 10-year term; and,

    b)      the proposed by-law appended to the staff report dated April 12, 2021 as Appendix "A", BE INTRODUCED at the Municipal Council meeting on April 13, 2021 to authorize the borrowing upon serial debentures in the aggregate principal amount of $23,000,000 towards the cost of certain capital works of the Corporation of the City of London.


    Yeas: (6)A. Kayabaga, E. Peloza, E. Holder, M. van Holst, M. Cassidy, and J. Morgan


    Motion Passed (6 to 0)
  • Moved by:E. Peloza
    Seconded by:M. Cassidy

    That the meeting be adjourned. 



    Motion Passed

    The meeting adjourned at 12:10 PM. 


No Item Selected