Page A8 - The Terrace Standard, Wadnesday, February 24, 1993 Sewer ho Residents demand solution TERRACE — Advocates of a Queensway scwer system came out of a public meeting last Thursday with hope that a referendum could pass. Despite deep divisions in the community, most residents agreed a new sewer system is desperately needed, “There could be a lot of serious health problems while we worry about our pocketbooks,’’ said resident Sharon Lockyer. *‘Some- thing has to be done.” ‘Clean. up. the area,’? added Dennis Spencer. ‘‘Let us have a decent place to live. There isn’t one of us that isn’t affected by it — it has to be done.”’ Many were opposed to the pro- ject when they arrived. But a sig- nificant shift in-mood took place during the meeting, Questionnaires filled in by resi- dents at the end of the meeting showed roughly two-to-one sup- port for the Queensway sewer project. More than 60 people at- tended the mecting.. © The $1.9 miflion low-pressure sewer system proposed for the Queensway and Churchill Drive areas would cost each resident ei- ther $350 per year over 20 years, or else a $2,770 up-front pay- ment. ae oo They would also pay an estimated $150 per year for oper- ating and maintenance, and they’d have to pay around $1,000 each for hookup to the system. ft would still require residents to maintain a septic tank, which would pump out sewage to the main sewer line. The most vocal opponents of the sewer project are homeowners like Laurel Donaldson, who built a new system just two years ago. “Not all of Queensway is a problem area,” she argued. ‘‘It’s been labelled as such, but it’s not the case,” Donaldson and others reject the idea of paying ‘thousands .of doles; fyi t lars forva"s¥atem they tsay they “2 don’t..need. All residents” will”. | / have to hook up to the system if the referendum passes. Health ministry spokesman Ron Craig said nearly every septic system in the Bobsein area has malfunctioned. ‘We're all getting tarred with the same brush,’’. Rick Hawke, who chairs the committee lobby- ing for the system: Craig said systems also mal- functioned last year along Chur- chill Drive, -and © engineers anticipate more systems there will fail this summer... Craig said? all residents in the area are vulnerable to potential health problems if the sewage mess isn’t cleaned up — regard- less of whether or not their sys- tems are working well. Disease-carrying flies . move : i we QUEENSWAY SEWER advocate Rick Hawke fielded questions last Thursday from residents concerned about the proposed $1.9 million sewer system. from barbecue to barbecue on hot summer days, he noted. Some residents démanded the Kitselas band’s Kulspai reserve be forced to join the sewer sys- tem, thereby reducing the overall costs. . ; ‘*Why should we go for it?’ - one man demanded. “The In- dians don’t have to go for it.” | The Kulspai problem has been a sore point both for residents and the architects of the new sewer plan. : Political discord. between some band members and their leaders’ precludes any involvement in the Queensway. sewer process until after band council ‘elections this spring. But when Kulspai eventually does join, the rést of Queensway will enjoy either a reduction in operating rates or some kind of reimbursement, “They'll have io pay their fair share and somehow it’s going to help us,’’ said regional district administrator Bob Marcellin. Some felt residents of the 50 trailers in the Timberland trailer court either werent paying enough or shouldn’t have a right to vote on the referendum. “It’s a tecter-totter,’”? said Mar- cellln, ‘We're trying to find a balance between the trailer park ‘and residents and the other homeowners,’” es boosted HOW MUCH? * Total capital cost: $1.9 million. * Capital cost to each homeowner: $350 per year for 20 years or else $2,770 up front. Add roughly $1,000 for hookup. Plus a $150 per year fee for operation. and maintenance ($120 per unit for trailers}multi fa, , * Number of homes to be served: 171 along Queensway Ave. and Churchill Drive, * Subsidy from provincial government; 75 per cent. Buy now or lose TERRACE — Queensway resi- dents could end up paying four times as much later if they don’t buy into a new sewer system now. So says, Les Cooper, who now operates a similar low-pressure sewer system near Fort St. John. “Tf they don't do something and act on it within eight or ninth months, they won’t get 75 per cent funding,” Cooper predicted, He’s certain the government is going to axe high subsidies for sewer systems. Sewer advocate Rick Hawke says the cost of rejecting the pro- posed sewer system would also be a loss of control over what is eventually built. The. province, he said, will eventually step in and order a sys- tem built — with or without their approval. “They'll put in whatever damn system they bloody well want — and you and I are going to pay and pay through the nose for it,” Clearance tems § {Many items throughout our-store “are clearance priced. Stop in | today to find your bargains - SHOP AROUND - But before you buy compare our prices - we'll save you $$$ 5 G 27 O11 years 2andup _ 635-2943 >, @fter 6:00 pm) ferrace Ninar 93 6 5:30 pm to 8:3 f 10:00 am to 5:00 pm Skeena Mail. @) ramily of 3 or more $75.00. Terrace Youth Soccer Association 5 REGISTRATION March 5 - 6pm-9pm March 6 - 10 am - 4pm March 12 -. 6pm-9pm March 13 - 10 am-4pm Skeena Mall 222m FOR NORE INFO 635-3719 & There will be a $15.00 late registration fee ~ | HAROLD J, SPENSLEY, Community Banking Manager | There's An Easier Way To Maximize Your RRSP Contribution [| Revised RASP Contribution Rules in effect this year allow many investors to make larger RASP contributions, and we can help you make the most of it, Ask us about the ACCUMULATOR Investment - i) ree oe certificatesbatning up to {0%%'In thé Sth year’ © 2° Income between spousas at ratirament. And this may mean an opportunity to reduce the amount of tax pald on retirement income. This is bacause contributing to a spousal RASP over the years through spousal RRSP. contributions will subsequently provide for income splitting at retirement, And through: Income splitting, the spouse In a higher tax bracket can effectively transfer Income to the fj spause who is ina lower tax bracket. Then, when RASP funds ara withdrawn at retirement, generally itis the planholder, your spouse, who pays tax on withdrawn funds. Consequently total tax pald may be lower if both spouses ara taxed at a lower marginal tax rate. Attribution rules may affect contributions . There are, however, some Instances where the contvibutar will ba taxed rathar than the spouse, These Instances occur where altribution rules apply, Specifically, attriputian rules state that any withdrawal of funds from an RRSP, made within three years of the Initial contribution, Is included in taxable income of the contributor rather than In the taxable Income of the spause recelving the funds. a So it is wise ta consider the many factors Involved when you're thinking of using a spousal RASP to minimize taxes over the shorter term. Creative contribution strategies can help you put more Into your RRSP Every year, many Canadians fall to take maximum advantage of their RASPs simply Decause they can't find the cash to contribute. The result {s that they may lose oppartunity to build tax-deferred savings for the future, vs Why make a spousal RASP'contribution? = . You may ask however, why do such a thing? Well, contributing to a spousal RASP wil not only provide fer Income when you retire, but It's also an effective way to equalize - There are however ways to ensure that you make your maximum allowable ARSP . | contribution every yeas. _ Good reasons to borrow ae, Borrowing to make your ARSP contribution can make good sanse, To illustrate, let's say’ that the March 1st contribution deadline is just a few weeks away, and that you're entitled to contribute $3,000 to your RRSP, But you find that you've only got about $2,000 In cash, Should you barrow the extra $1,0007 Sometimes it can be to your benefit to borrow ta make your ARSP contribution, in fact, - B by doing so you could save for your retirement and have a tax deduction against currant : Income, Over time, the intersst eamed on your RRSP contribution could outwelgh the interes! on your RRSP loan, So Many financial institutions have RASP loan programs where you can borrow at prime, And often, approval for anFARSP loan Is Instant -youjust needtospply, _ Even more conventent|s the flexible repayment schedules most institions otfar to those - B borrowing to maka and RASP contribution. By choosing a 90-day deferral on your first repayment you can use the procasds from your tex refund to pay. down your loan - @ sometimes you can even pay off your RASP foan injust ona payment. Choosing the Right RRSP Investment : - Many ARSP investors recognize the Immediate tax benefits of contibuting regularly to: thelr RRSP, They often give lass thought to how their RASP Is growing, Bit, with a litle knowledge, you can help to make a big difference to the amount of cash you accumulate In: : your plan - and to the quality of your retirement lifesty’e, In fact, just an increase by a single percentage polnt In the average rate of retum on your: ASP investments could Increase your retirement Incame quite significantly, And that could -meana lot of nice extras when youretire, -. Improving RRSP Performance | So how do you help Increase the average rate of retum of your RASP investment? Stat by looking at tha Invastmants you now held inside your RASP. Like many people, you may: _salectthe same types of ARSP Investment every year - without considering all the options available to you. : For example, your RASP portfolio may canslst almost entlaly of one-year investment . certificates, A good choice? Certainly these provide a high leval of security and a respectable return. But you could probably do better, . One way Is to diversify your holdings to include certificates with a wide range of maturity’ dates’. say, from aix months to five years. Then, if Interest rates dactine In the fulure, your. longerterm certificates will probably mature quickly enough so that you'll still bs able to - fj capitalize on the higher rate. 4666 Lakelse Ave,, - Terrace Bank of Montreal|