The filed record
Authority to Issue a Debenture to the Canada Mortgage and Housing Corporation for the Modular Homes Project
The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.
The decision
2020-06-26 · Debenture Committee · adopted
As filed
The Debenture Committee adopted the following: 1. The Debenture Committee approve the issuance of a 20 year sinking fund debenture in the principal amount of $6,250,000 to the Canadian Mortgage and Housing Corporation (the "Debenture") in accordance with the terms and conditions set out in the Loan Agreement entered into by the Mayor, the Chief Financial Officer and Treasurer, and the Executive Director, Housing Secretariat, dated June 12, 2020, for the purpose of financing of capital expenditures in connection with the Modular Homes Project.
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2. The Debenture Committee authorize the introduction of the necessary Bills to the Debenture Committee to authorize the issuance of the Debenture. 3. The Debenture Committee authorize the appropriate City of Toronto officials to take the necessary actions to give effect to the Committee's decision.
On the agenda
As the city filed it
This report requests authority to issue a sinking fund debenture for $6,250,000 to the Canadian Mortgage and Housing Corporation (CMHC) to finance capital expenditures in connection with the Modular Homes Project.
Staff recommended
The Chief Financial Officer and Treasurer recommends that: 1. The Debenture Committee approve the issuance of a 20 year sinking fund debenture in the principal amount of $6,250,000 to the Canadian Mortgage and Housing Corporation (the "Debenture") in accordance with the terms and conditions set out in the Loan Agreement entered into by the Mayor, Chief Financial Officer and Treasurer, and the Executive Director of the Housing Secretariat, dated June 12, 2020, for the purpose of financing of capital expenditures in connection with the Modular Homes Project.
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2. Authority be granted for the introduction of the necessary Bills to the Debenture Committee to authorize the issuance of the Debenture. 3. The Debenture Committee authorize the appropriate City of Toronto officials to take the necessary actions to give effect thereto.