Item - 2019.RZ4.3

Tracking Status

This item was considered by TO Live - Audit Committee on November 15, 2019 and was adopted with amendments.

RZ4.3 - Meridian Credit Cards

Decision Type:: ACTION

Status:: Amended

Confidential Attachment - Contains financial information supplied in confidence to the Board of Directors of TO Live, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization

Committee Decision

The TO Live Audit Committee recommends that the Board of Directors of TO Live:

1. Refer the item back to the President and Chief Executive Officer, TO Live to modify the Credit Card agreement in accordance with the confidential instructions to staff attached to motion 1 by Paul Bernards.

Decision Advice and Other Information

The TO Live Audit Committee recessed its public meeting to meet in closed session to consider the item as it contains financial information supplied in confidence to the Board of Directors of TO Live, which, if disclosed, could reasonably be expected to prejudice significantly the competitive position or interfere significantly with the contractual or other negotiations of a person, group of persons, or organization.

Origin

(October 30, 2019) Report from the President and Chief Executive Officer, TO Live

Summary

The purpose of this report is to request the Board's approval to enter into a credit card agreement with Meridian Credit Union.

Background Information

(October 30, 2019) Report from the President and Chief Executive Officer, TO Live on Meridian Credit Cards
https://www.toronto.ca/legdocs/mmis/2019/rz/bgrd/backgroundfile-139590.pdf
Confidential Attachment 1 - Meridian Credit Card Agreement
Confidential Attachment 2 - Meridian Rates, Fees and Terms Schedule
Confidential Attachment 3 - Meridian Credit Card Holders List

Motions

1 - Motion to Amend Item moved by Paul Bernards (Carried)

That the Board of Directors of TO Live refer the item back to the President and Chief Executive Officer, TO Live to modify the credit card agreement in accordance with the confidential instructions to staff attached to this motion.