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0jt a iwamt- mnmhsaavijiiiil st weekender septeiek1819p15 bond rating of separate board plummets due to debt load julie caspersen staff reporter a 115 million mortgage debt held by the york region roman catholic separate school board has caused its bond rat ing to plummet five points the separate system opened five new schools this year one an elementary school in markham but trustees took a stand earlier this year and promised no more new schools until financing is in place before construction begins why has it taken this long for people to realize that there is a direct- connection between the building of schools and the boards debt said board chair terry ryan adding that seven elementary and three high schools have been built in less than three years thats well over 100 million worth of land acquisition and construction the board is allowed to issue debentures as a way of financ ing new school construction although it is currently in a legal fight for the right to charge levies on new home and business construction to help offset the cost this legal battle with the ontario home builders associ ation coupled with the boards debenture debt plus its operat ing deficit that could reach upwards of 25 million this year has prompted the down grading of its bond rating from aaminus to bbb this drop cuts off access to longterm funding arid stops school construction dead in its tracks said board spokesper son don oshaughnessy it is a very great threat to long- term funding needed for school mortgages last may the ministry of education was asked to help board briefs residents wanting to voice concerns on education can do so in november the royal com mission on learning will start combing the province for feed back beginning this month in thunder bay the fivemember commission will be in markham nov 22 for a public hearing individuals and groups wanting to make a presentation can call 3252707 for more information on specific times and locations business ties forged the york region board of education resolved to encourage students to forge a relationship with business a plea by students and teachers in local chapters of deca dis tributive education clubs of america asked the board to back students pursuing entrepreneurial links with the business communi ties trustees stopped short of sup porting a motion to actively pro mote deca clubs but voiced their encouragement of such activities in local high schools thirty york region students attended the 1993 conference in the united states where 10000 students competed set up a third party review of the boards operation to make cost economy recommenda tions so far the ministry has not responded oshaughnessy said the board expects attendance to jump by more than 2000 students this year for a total population exceeding 42000 this represents more than one third of the students in the public and separate school sys tems in york region but the board maintains it receives less than one quarter of the govern ment funding this is an effective 15 mil lion annual penalty ryan said do you think that now that a bond rating agency has spoken up someone is finally going to listen come celebrate our 1 anniversary with our buy1 get1 free witn coupon buy 1 entice jl regular price receive the 2 free specializing in homemade cooking mpr pat rnct monday tuesday wditdjy sjturcijv ub tl rktt jft5pni a llbo family restaurant markville sc upper level 4740704 f x 3jis8s- 5 xxvv h sxsssssi the curtain is rising an spectacular entertainment at the markham theatre aermac xkecrire of s ova scoyxas fantasy and fable puppets and performers music and magic mesmerizing entertainment for young family audiences sun september 26 11 am 130 pm 330 pm moil september 27 5 pm 7 pm tickets 700 or 900 its 1927 smalltown ontario the orangemens july 12th king billy parade the ku klux klan is recruiting a familys conflict between prejudice and morality blyth festival and alberta theatre projects qus this compelling canadian drama is a mustsee september 28 to october 2 at 8 pm matinee 230 pm on oct 2 spo tickets 1900 or 2400 mslatb only 3 performances scheduled call soon tickets are selling fast october 4 5 and 6 at 8 pm all tickets 3300 sponsored by box office 416 markham rj v theatre ckk 4790201 chariie by phone im pcrfoniiiug arts markham theatre for performing arts town centre blvd iv curmr lh warden 939 professional entertainment season join us on a voyage of 000000000 1 1 i li i if i r v i r y f i i m 1 v j n vi c i r i j t i