City of Toronto Logo Decision Document


Debenture Committee

Meeting No. 1   Contact Cathrine Regan, Committee Administrator
Meeting Date Tuesday, September 29, 2009
   Phone 416-392-6276
Start Time 2:30 PM
   E-mail clerk@toronto.ca
Location Committee Room 4, City Hall
  Chair   Mayor David Miller  

The Decision Document and Decision Summary are for preliminary reference purposes only.  Please refer to the Minutes for the official record.

 

How to Read the Decision Document:

  • action taken by the Committee on items that are "delegated" (Committee makes final decision) are so noted.
  • Declarations of Interest, if any, appear at the end of an item.

DB1.1 

ACTION

Adopted 

Delegated 

Ward: All 
Issuance of Debentures
Committee Decision

The Debenture Committee adopted the following:

 

1.         The Debenture Committee approve the provision of long term financing of certain capital works through the issue of sinking fund debentures in the amount of $400 million in accordance with the terms and conditions set out in the Purchase Letter entered into by the Mayor and the Deputy City Manager and Chief Financial Officer on September 21, 2009 as further described in this report.

 

2.         Authority be granted for the introduction of the necessary Bills to the Debenture Committee to authorize the issue of debentures, to authorize the new arrangements with CDS Clearing and Depository Services Inc. (“CDS”) and to authorize the issue of replacement debenture certificates and revenue bonds all as described in this report.

 

3.         The Debenture Committee authorize the appropriate City of Toronto officials to take the necessary actions to give effect thereto.
Decision Advice and Other Information

Len Brittain, Director, Corporate Finance, made a presentation to the Debenture Committee regarding this Item.
Origin
(September 22, 2009) Report from Deputy City Manager and Chief Financial Officer
Summary

This report requests that the necessary Bills be introduced and adopted by the Debenture Committee at its meeting on September 29, 2009 to give effect to the issue of sinking fund debentures in the amount of $400 million that were syndicated in the domestic capital market on September 21, 2009.
Background Information
Report (September 22, 2009) from the Deputy City Manager and Chief Financial Officer, headed "Issuance of Debentures"
(http://www.toronto.ca/legdocs/mmis/2009/db/bgrd/backgroundfile-23558.pdf)
Presentation material (September 29, 2009) submitted by the Director, Corporate Finance
(http://www.toronto.ca/legdocs/mmis/2009/db/bgrd/backgroundfile-23867.pdf)

DB1.2 

ACTION

Adopted 

Delegated 

 
Enactment of By-laws
Committee Decision

General Bills

The Debenture Committee enacted By-laws 884-2009 to 886-2009.

 

Confirmatory Bill

The Debenture Committee passed a Confirmatory Bill as By-law 887-2009.
Summary

Introduction and consideration of bills for enactment as By-laws.
Background Information
Debenture Committee By-law Index for September 29, 2009
(http://www.toronto.ca/legdocs/mmis/2009/db/bgrd/backgroundfile-23868.pdf)

Meeting Sessions
Session Date Session Type Start Time End Time Public or Closed Session
2009-09-29 Afternoon 2:35 PM 2:45 PM Public