Authorize and approve the amendment to the Shareholder Direction dated October 15, 2019 to establish a new Dividend Policy between BEC and the City of Burlington as set out in detail in city manager’s office report CM-03-23, in accordance with the Shareholder Direction dated October 15, 2019, and the Corporation of the City of Burlington (“City of Burlington”) in its capacity as a shareholder of the Burlington Enterprise Corporation (“BEC”); and
Authorize and direct the Mayor and City Clerk to execute the Resolution of Sole Shareholder substantially in the form appended as Appendix A to city manager’s office report CM-03-23, subject to the approval as to form by the Executive Director of Legal Services and Corporation Counsel and approval as to content of the Chief Financial Officer; and
Direct the City Clerk to consolidate the Shareholders Direction in accordance with the authorized amendments and forward a copy to the BEC.