What is wrong with this Timer syntax?

The Timer takes two parameters as I understand it: duration and repeat. But the compiler returns an error expecting 0 parameters at the new Timer declaration.
Any help would be greatly appreciated. Thanks.

package {
import flash.utils.Timer;
import flash.events.TimerEvent;
import flash.display.Sprite;

public class Timer extends Sprite {

    public function Timer() {
        **var myTimer:Timer = new Timer(2000, 1);**
        myTimer.addEventListener("timer", timerHandler);

    public function timerHandler(event:TimerEvent):void {
        trace("timerHandler: " + event);