A2 - The Terrace Standard, Wednesday, December 1, 1999

From front

Talstra ready to look for deals
anywhere to get multiplex built

burden to the taxpayers by at least
$4 million.

Another avenue Talstra wants to
pursue is the possibility of getting
provincial infrastructure grants,
which could be partly used to benefit

unincorporated rural areas and partly

to put towards the multiplex,
He suggested during the election

campaign that.Braun’s Islanders-—-if ~

they voled to merge with Terrace
- could get a needed water system
free of charge while another $i mil-
lion might be available for the mul-
tiplex.

He wants that fully explored, but
adds other rural areas might want to
do something similar if Braun’s Is-
landers aren’t interested.

“If those people choose not to go
that route, there are other people in
other areas that might want to sit
down and talk about it,” Talstra said,

Talstra said the financing drive is

more palatable in Thornhill, but in
Terrace as well.

“I’m also very much aware that
45 per cent of Terrace voted against
it,” he said.

_ It’s might even be possible, Tal-
stra said, that, with federal-provin-
cial grants: and success on other fi-
nancing fronts, the project could be

built without: borrowing “any money~~

at all, or by. borrowing a much
smaller anicunt under short-term bor-
towing, which requires no referen-
dum.

There are other strategies Talstra
does not rule out-either. >

They. include:

@ Renewed atttempts lo find a
private company to build the*com-
plex and then charge back” fees :to
the city. Or a. variation of that -in-

volving joint partnership with’ a a pri-. ;

vate firm.
@ Building the complex { in stapes.

gym/youth centre first, and do the
other side when we can afford it.”

“Maybe there are other options
we haven't even thought of that the
committee will think of, id Talstra ad-
ded.

While the. recreation benefits of -|

“ghe project are strong, Talstra said

“@it’s the economic benefits that make — |.
it “critical” to“ Terrace’s future’ and” ~~}

too important to be abandoned now,
he added.

“If we pride ourselves and want to.
be the regional centre of. the north- -

west we have to show some’ leader-
ship and keep up on 1 these things,”
he said.

“If we don’ t build this complex i in
the. next three: years or so, Someone
else will and then there will be a
shift in‘services heading towards that
community, and we will ultimately
be the loser.”

“That’s why I think it’s critical to

essential not just to make the cost

“Maybe we

should — build

the

get it done in this term,” he said.

Software glitch hits bank machines

NORTHERN = Savings
Credit Union was one of
four B.C. credit unions hit
last week by a software
bug that caused customers
names to remain on dis-
play for all to see after us-
ing automated teller ma-
chines,

“The company provid-
ing ATM service was
changing over the graphics
displayed on the screens
when this bug manifested
itself,” said Credit Union
Central of B.C. spokesman
Tan Smith.

Al the Terrace branch,
customers withdrawing
cash at the credit union’s
drive-through ATM and

another ATM at Copper-
side West could see the
previous customer’s name
on the screen before in-
serting their card,

Once finished the trans-
action, the machine —- in-
stead of displaying a nor-
mal welcome screen —
flashed up the new cus-
tomer’s name. The name
would remain on the
screen until the next time
the ATM was used.

Smith said the glitch
happened because of an
incorrect setting within the
ATM software that has re-
cently been upgraded to
ensure the machines will
continue working in the

year 2000.

It started happening last
Tuesday but was fixed by
Wednesday, Smith said.

Three other credit
unions were affected in the
Okanagan, Vancouver Is-
land and Vancouver.

Branch manager. Ken
Earl said staff were able to -
fix the problem themselves
after getting directions
from Vancouver-based Q
Data West software, man-
ufacturer of the Vision-
West banking system.

Smith stressed credit
unions are ready for ¥2K
and the safest place for
customers to keep their
money is al the credit

union.

Credit unions are: pre-
paring to get extra cash in
the event customers want
to take out extra amounts.

“The Bank of Canada
has made sure the physical
money supply is far greater
than it. would be ordinari-
ly,” Smith said.

The central bank has
both printed new bank
notes and refrained from
destroying ald. ones to
boost. its reserve of actual

_ cash from a normal $6 bil-

lion to about $23 dillion,
Smith ‘said.

“Fhat money could be
brought into circulation if
it’s needed,” he said.

Family files negligent death suit

THE PARENTS of a Cale-
donia grad who died when
her car was hit by a stolen

Mor da June, J2 are RE :

for dan}

Nov. 22 in Supreme Court
for damages they've in-
curred: in their daughter
Laura’s death.

The writ argues that
Aaron Douglas, the driver
of the stolen vehicle that
struck Laura Lee, drove
negligently.

B,.C.’s Family Compen-
sation Act allows family
members to sue for dam-
ages on behalf of a de-
ceased spouse, parent or
child.

In the Lee’s suit, that
loss includes any gui-
dance, support, household
assistance, economic sup-
port and emctional shock
as well as funeral ex-
penses and cost of the
Toyota Tercel Laura Lee
was driving.

“They're not out for the

money,” said Jim Hanson,
the Lee’s Surrey-based
lawyer. “By taking action,

they want to put a stop to
this kind of situation hap-
pening again.”

The papers will be
served to Douglas in jail,

where he sits until his pre-

Jim Hanson

liminary hearing in Jan-
uary on a number of crimi-
nal charges.

Douglas will have 14
days, after he has been
served with the suit, to file
a statement of defence. If
he fails to file, ICBC is
then liable as Douglas was
driving a stolen, and there-
fore uninsured, vehicle;
said Hanson,

“ICBC will pay the
claim as he its an unin-
sured driver,” said Hanson.

Hanson added that in
his experience with ICBC
claims, the . insurance

company usually settles.

out of-court for a confiden-
tial dollar value.

“ICBC has: settled in’

the Past,” said Hanson.

Total damages in the
suit are unspecified. But,
said Hanson, given Laura’s
outstanding reputation in

‘the community, she would”

have supported her parents
in their old age and ‘they,
should be compensated for
thac toss, ,

The accident. has: also
been the subject of a letter
from Skeena MP Mike
Scott to the president of
ICBC in which the- MP
wants the insurance com-
pany to take on financial -
responsibility beyond: the
standard $2,500 payout: for-
the loss: of Laura’s life and:
value of the car she WS
driving.
According to the Mike
‘Scott letter, the Lees also
have ‘a verbal $15 ,000
offer from ICBC to cover
additional expenses and -
claims.

“Iam shocked. and ap-
‘palled . at.’ this,” writes

Scott, “Gordon-and Nancy’. .

Lee have made it abund-.
antly clear. that they: could
never. put-a financial value
on their daughter’s life nor
would they want to, but
adding to the tremendous
loss and. suffering they
have: already experienced,

is. ICBC's offer of 617,500
as. full. compensation. for

~. Laura Lee’s life."

“Pm doing okay, but ! wish
| didn’t have diabetes.

If the trial proceeds,
Hanson expects ‘the hear-
ing to be held here within
the next! year.

* Laira‘Lee and her boy-

friend Renaud Fontaine

died June 12,- 1999 -at the

intersection of Hwy. 16 and
37 in Thornhill when the
car.they were driving was

hit by a stolen’ vehicle
“being pursued: by. police.
The ‘students: were days

away from: graduating high

school,

Aaron. Douglas faces
nine charges including two

“counts of criminal negli-
- gence ‘causing «death and

impaired driving causing
death.

~ He is also: charged with
possession of stolen prop-

-erty and breach-of proba -

tion. Douglas. sustained

minor Injuries in the acci-.

dent.”

CONTINUOUS EDUCATION

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Six Steps to handling
your inheritance

Many of. us attach
meaning to money that has
nothing to do with what it
really is and everything to
do with emotion. And the
emotional associations with
inherited money - because
they're conflicting and
legilimate - are doubly
strong: A loved on has been
lost, yet that loss has
created a windfall.

But remember: Your
benefactor wanted you to
receive a legacy. And
managing that inheritance
wisely is the best tribute
you can. pay your
benefactor... the best way
of saying “thank you."

If.,.you've . recently
inhétited money - or expect
a, bequest in the future -
consider this six step plan
for making the most of it.

Step One: Do nothing for
at least 30 days, beyond
investing the money in a
short-term investment like a
money-market fund.

Step Two: Make a wish
list. Depending on the-size
of the bequest, this could

-Include anything from a

cottage or car to a dream
vacation. Then let reality
sink in and consider your
“real” financial
commitments - paying for a

“smart

child's education, hammering
down a mortgage, topping up
an RRSP.

Step Three. Consider
consulting a financial adviser

Peter Arcadi
Regional Vice President
Primerica Financial
Services In Terrace

to help minimize any tax bite.
Its illegal to evade taxes; it's
to. ensure the
government doesn't get
more than it deserves,

Step Four, Devise a
financial. plan ‘that: will
maximize the benefit af the
inheritance. ~

~ Step Five: Invest for long-
term growth.

Step Six, Get the best
possible return on your
invested inheritance.

If you think your bequest is
too small to command such
attention, consider this:

$10,500 invested in a
mutual fund with a 10 per
cent average annual
compounding rate of return
will grow to cover a
$67,000 education bill for a
student starting a post-
secondary education in 18
years. Thats whal four
years of university will cost
between 2017 and 2021
extrapolating Canadian
Federation of Students
data for the 1997-98 schoo!
year and assuming an
annual inflation rate of
three per cent.

For the parents of a
newborn, investing an
iiharitince’ if this manner
eliminates a potentially
painful financial headache
down the road. And
creating a legacy for
learning is a terrific way of
paying tribute to your
benefactor.

For questions on this
or other financial topics
cail Peter at:

635-7800 or
1-800-295-7676

arcadipts @kermodé.net

ee th Annvadl
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