Toronto District Heating Corporation (TDHC)

Proposed Shareholder Agreement

The Policy and Finance Committee reports having concurred with the following motion requesting that the Chief Administrative Officer submit a confidential report to Council for its meeting scheduled to be held on September 28, 1999, respecting the Proposed Shareholder Agreement with the Toronto District Heating Corporation:

Moved by:Councillor Dennis Fotinos

Seconded by:Councillor Gordon Chong

WHEREAS at the Council meeting of July 28, 29, and 30, 1999, Council approved recommendations to restructure the Toronto District Heating Corporation (TDHC) into a company with shared capital operating under the Ontario Business Corporations Act; and

WHEREAS Council approved the recommendations to partner with OMERS in the new company; and

WHEREAS Council instructed staff to report to the September 28, 1999, meeting of Council with the draft terms of a shareholder agreement between OMERS and the City of Toronto as joint owners of TDHC;

NOW THEREFORE BE IT RESOLVED that the Chief Administrative Officer be instructed to submit to Council for consideration at the September 28, 1999, meeting a confidential report detailing the proposed shareholder agreement.