Regular
|
Agenda |
Regular |
Debenture Committee |
| Meeting No. | 8 | Contact | Suzanne Millar | |
| Meeting Date |
Monday, October 18, 2010 |
Phone | 416-392-6276 | |
| Start Time |
3:00 PM |
smillar@toronto.ca | ||
| Location |
Committee Room 2, City Hall
|
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 (416-392-6276), TTY 416-338-0889 or e-mail smillar@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.
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 416-392-6276.
Declarations of Interest under the Municipal Conflict of Interest Act.
Confirmation of Minutes - August 19, 2010
Communications/Reports
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| DB8.1 | ACTION |
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Ward: All |
| Authority to Issue a Debenture to the Federation of Canadian Municipalities to Secure Funding for the Toronto Police Services |
| Origin |
| (October 5, 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 issuance of a twenty year amortizing debenture in a maximum aggregate principal amount of $2.0 million to FCM, in accordance with the terms and conditions set out in the Loan Agreement entered into by the Mayor, the Deputy City Manager and Chief Financial Officer and the City Clerk dated December 9, 2009, and in accordance with this report.
2. Authority be granted for the introduction of the necessary bills to the Debenture Committee to authorize the issue of the debenture described in Recommendation 1.
3. The Debenture Committee authorize the appropriate City officials to take the necessary actions to give effect thereto. |
| Summary |
This report requests authority for the City to issue a debenture for $2.0 million to the Federation of Canadian Municipalities (FCM) to finance a portion of the costs of the Toronto Police Services Training Centre (“the Project”) through FCM’s Green Municipal Fund Loan Program. In addition, the Toronto Police Services will also be receiving a $300,000 grant from FCM in conjunction with the loan to finance the Project. |
| Background Information |
| (October 5, 2010) report from the Deputy City Manager and Chief Financial Officer on authority to issue a debenture to FCM to secure funding for the Toronto Police Service (http://www.toronto.ca/legdocs/mmis/2010/db/bgrd/backgroundfile-33649.pdf) |
| DB8.Bills | ACTION |
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Delegated |
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General Bills Confirmatory Bills |