Ben, I think what you're doing is great. Most leagues in the states don't have their own tournaments but rather a position round the last week. How many weeks did you plan on this league being? Prize systems would depend on Canada's laws regarding minors competing for money. In the US that would cause you to lose your amateur status and therefor college eligibility.
Being a new league I would suggest using a handicap system like 80% of 220 or whatever the expected top average would be but not less than 200. Also, is it possible to have an announcement made at the area high schools to invite all that may be interested?
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