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<br />The Corporation of the County of Essex <br />By-Law Number 2021-02 <br />A By-law to Authorize the Execution of a Guarantee on <br />behalf of Southwestern Integrated Fibre Technology Inc. <br />Whereas Southwestern Integrated Fibre Technology Inc. ("SWIFT") is <br />seeking a guarantee from the Corporation of the County of Essex with <br />respect to certain loans it may obtain from the Toronto-Dominion Bank, with <br />the guarantee from the Corporation of the County of Essex being for an <br />amount up to the sum of $2,342,000.00 (the "Guarantee"). <br />And whereas SWIFT is a corporation created and owned by the <br />Western Ontario Warden's Caucus, of which the Corporation of the County of <br />Essex is a member. <br />And whereas the Corporation of the County of Essex in 2017 entered <br />into a Capital Funding Agreement with, among other parties, SWIFT. <br />And whereas the Province of Ontario approved SWIFT Phase 3 <br />projects, of which the Corporation of the County of Essex is included, on <br />March 5, 2020, which will result in the sum of $150,126,848.00 being <br />invested in providing high-speed internet access in underserviced <br />communities in Brant County, Bruce County, Town of Caledon, Dufferin <br />County, Elgin County, Essex County, Grey County, Huron County, Middlesex <br />County, Niagara Region, Oxford County, Perth County, Simcoe County and <br />Region of Waterloo. <br />And whereas SWIFT may require short-term financing to complete <br />Phase 3 projects on time and in compliance with the deadlines provided for <br />with the Small Communities Fund. <br />And whereas Section 107 of the Municipal Act, 2001, S.O. 2001, c. 25 <br />permits the Corporation of the County of Essex to make grants, including the <br />guaranteeing of loans, for a purpose the Council considers to be in the <br />interest of the County of Essex.