Upgrades to the facility and technology needs are planned at the Culver-Union Township Public Library.
Randy Rompola, an attorney from Barnes and Thornburg serving as bond counsel for the library, told the Marshall County Council Monday morning that the library board held public hearings on the appropriation of the proceeds of the issuance of General Obligation bonds. The board members also adopted a bond resolution authorizing those bonds not to exceed $750,000.
The library board is required to bring this information to the Marshall County Council for approval as the library board is appointed. As part of the procedure, a public hearing was opened by the Marshall County Council to hear comments on the proposed projects.
Library officials plan to replace the HVAC system, upgrade the phone system, and bring the Main Street Courtyard up to ADA standards and other improvements. Other items include new computers and laptops; new main level carpeting (that can be done with the help of carpet cleaning fort myers); painting; a digital sign; a projector and screen; iPads for the Children’s Department; new servers; a new elevator; a maker space project that involves a new kitchen, sewing machines, and 3D printer; meeting room improvements; repair or replace walkways on the west side of the building; and increasing space for the collection of materials. Mold remediation reimbursement is also listed.
Todd Samuelson, a partner with Baker Tilly, explained that the sale of the bond will have very little or no effect to the tax rate impact.
Samuelson stated, “When you get out to the third or fourth decimal we’re estimating three-tenths of one cent and the reason that I assume no tax impact is once interest rates come in as we anticipate, I don’t believe we’ll see that three-tenths of one cent. If you look at a $150,000 home, we’re looking at, worst case scenario, two dollars a year.”
Current outstanding debt will end in 2023 and payments will be lower than the current debt over the course of the eight years requested for the General Obligation Bond.
No public comments were given during the meeting.
The Marshall County Council voted to approve a bond resolution for the Library Board’s projects. Councilwoman Penny Lukenbill abstained from the vote.
