Title
FINANCING APPLICATION SUBMISSIONS TO THE ONTARIO STRATEGIC INFRASTRUCTURE FINANCING AUTHORITY (OSIFA)
1. That staff be authorized to submit an application and initiate proceedings for the issuance of debentures in the amount of $35 million with Ontario Strategic Infrastructure Financing Authority (OSIFA) for the Holly Recreation Centre, the Collier Street Parkade, the GO Transit project, Urbanization of Montgomery, Kenneth, Bertha, and Section 326 and local improvement water & wastewater installations for Kenneth, Bertha, Montgomery; Foster Drive and Cox Mill Ph I in accordance with section 15.1 of the City of Barrie’s Purchasing By-law 2008-121.
2. That staff be authorized to proceed with a phased financing approach for the Surface Water Treatment Plant (SWTP) and the Water Pollution Control Centre Expansion (WPCC) through OSIFA that involves the use of a revolving construction financing facility with a corresponding debenture issue in increments of up to $75 million, with a total amount of debt issuance not to exceed $231 million in accordance with section 15.1 of the City of Barrie’s Purchasing By-law 2008-121.
3. That a by-law be enacted in the form attached to FIN002-09 in Appendix “A” to authorize the Treasurer or designate to submit applications to OSIFA for construction financing for the Surface Water Treatment Plant (SWTP) and the Water Pollution Control Centre Expansion (WPCC).
4. That the Mayor and Treasurer or designate be authorized to execute a Financing Agreement with OSIFA that provides for the construction financing and to sign the necessary certifications as required by OSIFA to support the financing arrangement for the SWTP and WPCC. (FIN002-09) (File: F00)