Agenda |
Consolidated |
Debenture Committee |
Meeting No. | 5 | Contact | Rosemary MacKenzie, Council Administrator | |
Meeting Date |
Wednesday, April 28, 2010 |
Phone | 416-392-8021 | |
Start Time |
1:30 PM |
rmacken@toronto.ca | ||
Location |
Committee Room 3, City Hall
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Chair | Mayor David Miller |
Members of Council and Staff: Please keep this agenda and the accompanying material until the City Council meeting dealing with these matters has ended. The City Clerk’s Office will not provide additional copies.
Special Assistance for Members of the Public: City staff can arrange for special assistance with some advance notice. If you need special assistance, please call (416-392-8021), TTY 416-338-0889 or e-mail rmacken@toronto.ca.
Closed Meeting Requirements: If the Debenture Committee wants to meet in closed session (privately), a Member of the Committee must make a motion to do so and give the reason why the Committee has to meet privately. (City of Toronto Act, 2006)
Notice to people writing or making presentations to the Debenture Committee: The City of Toronto Act, 2006 and the City of Toronto Municipal Code authorize the City of Toronto to collect any personal information in your communication or presentation to City Council or its committees.
The City collects this information to enable it to make informed decisions on the relevant issue(s). If you are submitting letters, faxes, e-mails, presentations or other communications to the City, you should be aware that your name and the fact that you communicated with the City will become part of the public record and will appear on the City’s website. The City will also make your communication and any personal information in it – such as your postal address, telephone number or e-mail address – available to the public, unless you expressly request the City to remove it.
The City videotapes committee and community council meetings. If you make a presentation to a committee or community council, the City will be videotaping you and City staff may make the video tapes available to the public.
If you want to learn more about why and how the City collects your information, write to the City Clerk's Office, City Hall, 100 Queen Street West, Toronto ON M5H 2N2 or by calling 416-392-8021.
Declarations of Interest under the Municipal Conflict of Interest Act.
Confirmation of Minutes - April 15, 2010
Communications/Reports
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DB5.1 | ACTION |
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Ward: All |
Issuance of Debentures |
Origin |
(April 23, 2010) Report from Deputy City Manager and Chief Financial Officer |
Recommendations |
The Deputy City Manager and Chief Financial Officer recommends that:
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 April 21, 2010 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.
3. The Debenture Committee authorize the appropriate City of Toronto officials to take the necessary actions to give effect thereto. |
Summary |
This report requests that the necessary Bills be introduced and adopted by the Debenture Committee at its meeting to be held on April 28, 2010 to give effect to the issuance of sinking fund debentures in the amount of $400 million that were syndicated and sold in the domestic capital market on April 21, 2010. |
Background Information |
(April 23, 2010) report from the Deputy City Manager and Chief Financial Officer on the Issuance of Debentures (http://www.toronto.ca/legdocs/mmis/2010/db/bgrd/backgroundfile-29631.pdf) |
DB5.2 | ACTION |
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Ward: All |
Authority to Amend By-Law No. 80-2010 Authorizing a Debenture issued to the Federation of Canadian Municipalities |
Origin |
(April 27, 2010) Report from Deputy City Manager and Chief Financial Officer |
Recommendations |
The Deputy City Manager and Chief Financial Officer recommends that:
1. The Debenture Committee approve amending By-law No. 80-2010 to change the interest rate from 2.32% to 2.375% and amending the amortization schedule to that contained in Appendix A to this report.
2. Authority be granted for the introduction of the necessary Bill to the Debenture Committee to authorize the amendment of the Debenture By-law No. 80-2010.
3. The Debenture Committee authorize the appropriate City of Toronto officials to make the necessary actions to give effect thereto. |
Summary |
This report requests that the necessary Bill be introduced and adopted by the Debenture Committee at its meeting on April 28th, 2010 to give effect to the amendment of the instalment debenture By-law No. 80-2010 authorizing a debenture be issued to the Federation of Canadian Municipalities for a loan to Exhibition Place for the Allstream Centre. |
Background Information |
(April 27, 2010) report from the Deputy City Manager and Chief Financial Officer on the Authority to Amend By-Law No. 80-2010 Authorizing a Debenture issued to the Federation of Canadian Municipalities (http://www.toronto.ca/legdocs/mmis/2010/db/bgrd/backgroundfile-29697.pdf) Amortization Schedule - Attachment 1 to the report (April 27, 2010) from the Deputy City Management and Chief Financial Officer (http://www.toronto.ca/legdocs/mmis/2010/db/bgrd/backgroundfile-29698.pdf) |
DB5.Bills | ACTION |
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Delegated |
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General Bills Confirmatory Bills |