Item - 2023.DB2.2

Tracking Status

This item was considered by Debenture Committee on April 27, 2023 and was adopted without amendment.
See also By-law 391-2023

DB2.2 - Introduction of By-laws

Decision Type:: ACTION

Status:: Adopted

Wards:: All

Committee Decision

The Debenture Committee passed By-laws 390-2023 and 391-2023.

Summary

The Debenture Committee will introduce a general Bill and a confirming Bill.

Motions

Motion to Introduce and Pass General Bills moved by Deputy Mayor Jennifer McKelvie (Carried)

That Bill 355, prepared for the April 27, 2023 Meeting 2 of the Debenture Committee, be declared as a by-law and passed subject to Section 226.9 of the City of Toronto Act, 2006.

Bill No.	By-law No.	Status	Title and Authority
355	390-2023	Enacted	To authorize the borrowing upon additional sinking fund debentures in the principal amount of $350,000,000.00 for capital works of the City of Toronto. (Re-opening of the 4.30% $365,000,000.00 sinking fund debentures due June 1, 2052, issued on June 1, 2022) Debenture Committee Item DB2.1, as adopted by the Debenture Committee on April 27, 2023 under the delegated authority of Section 30-3.5 of Chapter 30, Debenture and Other Borrowing, of the City of Toronto Municipal Code.

Motion to Introduce and Pass Confirmatory Bill moved by Deputy Mayor Jennifer McKelvie (Carried)

That confirmatory bills to confirm the legislative proceedings of the Debenture Committee acting under delegated authority at Meeting 2 on April 27, 2023 be declared as by-laws and passed subject to Section 226.9 of the City of Toronto Act, 2006.

Bill No.	By-law No.	Status	Title and Authority
356	391-2023	Enacted	To confirm the proceedings of the Debenture Committee at Meeting 2 held on April 27, 2023 as they relate to decisions made under delegated authority. (This final confirming By-law confirms the actions taken by the Debenture Committee under delegated authority at this meeting, including the enactment of any previous confirming By-laws.)