Debenture Committee

Minutes

Meeting #:
1
Date:
Time:
-
Location:
Honeywell Room, 110 Laurier Avenue West, and by electronic participation
Present:
  • Chair: Mayor Mark Sutcliffe, 
  • Vice-Chair: Councillor Catherine Kitts, 
  • and Cyril Rogers, Chief Financial Officer and Treasurer 
Absent:
  • Wendy Stephanson, City Manager 

1.
Notices and meeting information for meeting participants and the public

This item has attachments. 
1.Public Notices English - Hybrid Standing Committee.pdf
2.Public Notices French - Hybrid Standing Committee.pdf

Notices and meeting information are attached to the agenda and minutes, including: availability of simultaneous interpretation and accessibility accommodations; in camera meeting procedures; information items not subject to discussion; personal information disclaimer for correspondents and public speakers; notices regarding minutes; and hybrid participation details.


Accessible formats and communication supports are available, upon request.


Except where otherwise indicated, reports requiring Council consideration will be presented to Council on Wednesday, December 6, 2023 in Debenture Committee Report No. 1.


The deadline to register by phone to speak, or submit written comments or visual presentations is 4 pm on Wednesday, November 29, 2023, and the deadline to register to speak by email is 2:30 pm on Thursday, November 30, 2023.

These “Summary Minutes” indicate the disposition of items and actions taken at the meeting. This document does not include all of the text that will be included in the full Minutes, such as the record of written and oral submissions. Recorded votes and dissents contained in the Summary Minutes are draft until the full Minutes of the meeting are confirmed by the Committee. The draft of the full Minutes (for confirmation) will be published with the agenda for the next regular Committee meeting and, once confirmed, will replace this document.

2.
Declarations of Interest

 

No Declarations of Interest were filed.

3.
Office of the City Clerk

 

3.1
Debenture Committee Terms of Reference

This item has attachments. 
1.ACS2023-OCC-CCS-0158_Debenture Committee Terms of Reference.pdf

File No. ACS2023-OCC-CCS-0158 - City-Wide

  • Report Recommendation

    That the Debenture Committee recommend Council approve its Terms of Reference, as outlined in this report and attached as Document 1.

    Carried

4.
Finance and Corporate Services Department

 

4.1
By-Law to Authorize a $200 Million Debenture Issue

This item has attachments. 
1.ACS2023-FSD-FIN-0012 By-law - $200 Million Debenture.pdf
2.Document 1_2023-512-Debenture By-law.pdf

File No. ACS2023-FSD-FIN-0012 - City-Wide

Mr. Cyril Rogers, A/General Manager, Finance and Corporate Services (FCS) Department and Chief Financial Officer and Mr. Mark Martin, Manager, Treasury, FCS, were present to respond to questions.  At the conclusion of questions to staff and Committee discussions, the report recommendation was put before the Committee and was “CARRIED” as presented.

  • Report Recommendation

    That the Debenture Committee enact a Debenture By-law substantially in the form attached as Document 1 to authorize the issuance of a debenture in the total principal amount of $200 million.

    Carried

4.2
Enactment of By-Law

 

MOTION NO DC 2023 01-01

Moved by Vice-Chair C. Kitts:

That the following By-law of the City of Ottawa be given three readings and enacted by the Debenture Committee in accordance with its delegated authority:

BY-LAW - THREE READINGS

BY-LAW NO. 2023-512 - A by-law of the City of Ottawa to authorize the borrowing upon sinking fund debentures in the principal amount of $200,000,000.00 towards the cost of certain capital works of the City of Ottawa.

  • Carried

4.3
Enactment of Confirmation By-Law

 

MOTION NO DC 2023 01-02

Moved by Vice-Chair C. Kitts:

That the following By-law of the City of Ottawa be given three readings and enacted by the Debenture Committee in accordance with its delegated authority:

BYLAW - THREE READINGS

BY-LAW NO. 2023-513 - A By-law of the City of Ottawa to confirm proceedings of the Debenture Committee, a Committee of the Council of the City of Ottawa at its meeting held on 30 November 2023.

  • Carried

5.
In Camera Items

 

There were no in camera items.

6.
Inquiries

 

There were no Inquiries.

7.
Other Business

 

There was no other business.

8.
Adjournment

 

Next Meeting


To be determined.

The meeting adjourned at 3:44 pm.

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