Item - 2023.DB5.2

Tracking Status

This item was considered by Debenture Committee on November 27, 2023 and was adopted without amendment.
See also By-law 1216-2023

DB5.2 - Introduction of By-laws

Decision Type:: ACTION

Status:: Adopted

Wards:: All

Committee Decision

The Debenture Committee passed By-laws 1215-2023 and 1216-2023.

Summary

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

Motions

Motion to Introduce and Pass General Bills moved by Mayor Olivia Chow (Carried)

That Bill 1150, prepared for the November 27, 2023 Meeting 5 of the Debenture Committee, be declared as a by-law and passed subject to Section 226.9 of the City of Toronto Act, 2006, as follows:

Bill No.	By-law No.	Status	Title and Authority
1150	1215-2023	Enacted	To authorize the borrowing upon additional sinking fund debentures in the principal amount of $215,000,000.00 for capital works of the City of Toronto, pursuant to the City of Toronto Social Debenture Framework (the "Social Debenture Framework"). (Re-opening of the 4.55 percent $235,000,000.00 sinking fund debentures due July 27, 2042, issued on July 27, 2022 pursuant to the Social Debenture Framework). Debenture Committee Item DB5.1, as adopted by the Debenture Committee on November 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 Councillor Shelley Carroll (Carried)

That confirmatory bills to confirm the legislative proceedings of the Debenture Committee acting under delegated authority at Meeting 5 on November 27, 2023 be declared as by-laws and passed subject to Section 226.9 of the City of Toronto Act, 2006, as follows:

Bill No.	By-law No.	Status	Title and Authority
1151	1216-2023	Enacted	To confirm the proceedings of the Debenture Committee at Meeting 5 held on November 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.)