Corporate Services Committee

That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, the following actions be taken: a) the issue of serial debentures for a total of $55,000,000 BE APPROVED; it being noted that the average all-in-rate is 2.976% over a 10-year term; and b) the proposed by-law appended to the staff report dated March 5, 2018 BE INTRODUCED at the Municipal Council meeting on March 6, 2018, to authorize the borrowing upon serial debentures in the aggregate principal amount of $55,000,000 towards the cost of certain capital works of the Corporation of the City of London; it being noted that the Corporate Services Committee heard a verbal presentation from K. Yeung (CIBC), with respect to this matter.

That the meeting adjourn.