Joined: Aug 2005
Posts: 935
Likes: 46
From: Las Vegas, NV
Bikes: '04 LeMond Buenos Aires, '82 Bianchi Nuova Racing, De Rosa SLX, Bridgestone MB-1, Guerciotti TSX, Torpado Aelle, LeMond Tourmalet 853, Bridgestone Radac
Since you mentioned a twist shifter, Grip Shift 7sp is still readily available for less than US$20.00 but that could still put you "over budget" for just wanting to get the bike running.
Does Toronto have bike co-ops? I've never been to one, but I hear they can be good sources for piecing together bikes.