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File #: RES PH 13-246    Version: 1
Type: Resolution-Public Hearing Status: Passed
In control: City Council
Final action: 11/6/2013
Title: Amending the financing and spending plans in the Library Agency's budgets for the Highland and Sun Ray branch renovation projects.
Sponsors: Chris Tolbert
Attachments: 1. RES PH 13-246 Library Projects Financial Analysis
Related files: RES 14-620, RES 14-214
Title
Amending the financing and spending plans in the Library Agency's budgets for the Highland and Sun Ray branch renovation projects.

Body
WHEREAS, the City's Adopted 2012 and 2013 Capital Improvement Budgets included Library bonds for renovation projects at Highland Park and Sun Ray libraries; and

WHEREAS, the Library bonds will be not be issued until 2014; and

WHEREAS, the Friends of the Saint Paul Public Library ("the Friends") are conducting a capital campaign to fundraise for these projects to supplement the City's bond funding; and

WHEREAS, the total budget for the Highland renovation is $7,930,000 including Library Bonds and private donations; and

WHEREAS, the total budget for the Sun Ray renovation is $5,545,000 including Library Bonds and private donations; and

WHERAS, the planned sale of $7,000,000 in Library Bonds will take place in the spring of 2014;

WHEREAS, the Library has contracted with an architect to create plans for the Highland Park and Sun Ray renovations; and

WHEREAS, a portion of the private donations generated by the Friends campaign will pay for the costs of the architect referenced in this resolution; and

WHEREAS, the Library needs to modify the budget to remove bond financing for 2013 and reflect financing from the Friends' private funds in 2013; and

WHEREAS, the Mayor pursuant to Section 10.7.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriations funds in excess of those estimated in the 2013 budget and recommends the changes to the 2013 budget described in the attached fiscal analysis;

NOW THEREFORE BE IT RESOLVED, by the Council of the City of Saint Paul, upon recommendation of the Mayor and advice of the Long Range Capital Improvement Budget Committee, that the Capital Improvement Budgets, as heretofore adopted by this Council, be hereby further amended as indicated in the attached fiscal analysis; and

BE IT FURTHER RESOLVED by the Council of the City of S...

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