Authorize Peterborough Utilities equity acquisition and $20M investment
General Committee makes recommendations; City Council makes the final decision.
Every councillor who voted both times voted the same way.
Councillor Votes
Full Resolution Text
WHEREAS City of Peterborough Holdings Inc. has requested Council of the City of Peterborough to authorize: a) an indirect acquisition by Peterborough Utilities Inc. of equity interests; and b) the City’s commitment to transfer to City of Peterborough Holdings Inc. up to $20 million in consideration for preferred shares of City of Peterborough Holdings Inc. BE IT RESOLVED: 1. That Council of the City of Peterborough pass by-laws in the forms comprising Schedules A and B attached hereto to authorize: a) an indirect acquisition by Peterborough Utilities Inc. of equity interests; and b) the City’s commitment to transfer to City of Peterborough Holdings Inc. up to $20 million in consideration for preferred shares of City of Peterborough Holdings Inc.