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Candidates in the Oct. 25 municipal election meet in the Only pieâ€"election meeting to date at Stoufiville District Secondary School late last month. The town’s debt is $37.2;nillion. It’s the talk of the Oct. 25 municipal elec- tion campaign, on brochures and ads and at candidate debates. For that money, residents have received a rehabilitated Main Street, two new ice pads, a new fire hall and an operations centre, new roads, parks and a town hall the municipality can call its own. The debt: Of the four mayoral candidates, only SHARE THAT OPINION, STOUFFVILLE. E-MAIL LETTERS TO THE EDITOR TO IMASON@YRMG.COM BY SANDRA BOLAN sbolan@yrmg.com SMART BUSINESS DECISIONS TO PROVIDE NEW FACILITIES 0R TAXING RISKS BY TOWN COUNCIL? Fall Special Up to 20% in discounts 'efqig Oct. 31 incumbent Wayne Emmerson is comfortable with the debt load. “The debt is what it is. We did it all in four years. but I’m confident it’s what was needed to be done," he said. “We think we’ve provid- ed this municipality with new facilities, not just for five years but for 50 and 75 Whitchumh-Stoufiville’s yearly debt repay- ment is about ll-per-cent of its annual rev- enue. The municipality can carry an annual repayment limit of no more than 25 per cent of the town's own source revenue, accord- Will not be underscld Call or E-mail for your competitive I same day quote! ’ “We're virtually putting our children into debt," said mayoral candidate Sue Sherban. “I'll likely be dead by the time we pay off this debt." ing to Marc Pourvahidi, measurer and direc- tor of finance for the Town of Whitchurch- Stoufi'ville. It is expected to take 25 years for the town to pay down the $37.2 million. When Mrs. Sherban lost her bid for re- election as mayor in 2006 to Mr. Emerson, the municipality’s debt was zero, she said. “um-«vs (42m MOPERTY I saxvmas The bulk of the town’s debt â€" $22.6 million ~ comes from Main Street’s rehabilitation, constructing the operations centre, the Clip- pers Sports Complex and new fire hall. All four projects were slated. for comple- tion within a 15-year time frame, but because of some economies of scale, the current “When I left office, it was expected to grow for some borrowing and need, but not to this magnitude," she said. 138 W Dr., Unit 5, SIwfiviIa 905-642-2886 or 1‘877-410-2886(AUTO) ’eJ'InsureJ See mu, page 7‘ STAFF FILE PHOTO/NICK IWANYSHYN 33mm Hot Iis 27 80-. 294-8030 "OI V'II