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L 1 L _T T T T T TT TT Scott Wicken, coâ€"owner of Old Goat Books in Waterloo, read to a group of children from the Emmanuel day care centre last Wednesday to promote books and summertime literacy. In the minds of city staff members, the figure owed to the finance company should have added up to $112.9 million, to be paid over a 30â€" year period. Instead, a closer look at the agreement by outside auditors earlier this month revealed that in reality the interest rate sits at close to nine per cent; a revelation that more than doubles the amount the city originally intended to pay back. Continued from page 1 _ Further complicating the City heads to court 561 Hespeler Ad. | 292 Stone Rd. W. CA comere Shop | 30 Queen St. N. |160 University Ave. 1 Hespeler Ad. | 292 Stone Rd C. G ue â€"| * Sugh PASSPORT Story time matter, MFP sold the city‘s debt to the Clarica Life Insurance Co., which has confirmed that $227 million is expected from the municâ€" ipality. "I want to say to our citiâ€" zens and taxpayers that we thank them â€" for their patience as we went through this necessary investigation process...," she said, adding the city intends to proceed with the opening of RIM Park as scheduled, despite the controversy.. Chris Paliare of the law firm Paliare Roland Rosenburg Rothstein of Toronto, the city‘s litigator in the upcoming case, said he is not prepared to discuss the case at this time. Woolstencroft tefused to answer any questions conâ€" cerning the upcoming litigaâ€" tion process, but acknowlâ€" edged that, as mayor, part of her job is to clearly explain city issues to the public. However, he added, a statement of claim will be prepared and issued within the next 30 days. ANDAEA BaILEY moto