Recommendation: That, on the
recommendation of the City Treasurer, Chief Financial Officer, the following
actions be taken regarding the Book Entry Only Securities – Service Agreement
between The Corporation of the City of London and CDS Clearing and Depository
Services Inc. (“CDS”):
(a) the
attached proposed by-law (Appendix A) BE INTRODUCED at the Municipal
Council meeting on December 6, 2011, to approve requiring a bond of
indemnification from CDS as a condition of issuing replacement debentures;
(b) the
attached proposed by-law (Appendix B) BE INTRODUCED at the Municipal
Council meeting on December 6, 2011, to authorize the Book Entry Only
Securities – Service Agreement and Rider 1 (Municipalities) between The
Corporation of the City of London and CDS; and
(c) the
Mayor and the City Clerk BE AUTHORIZED to execute the Book Entry Only
– Securities Services Agreement and Rider 1 (Municipalities), attached
as Schedule 1, and any associated documents with CDS.
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