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Home My WebLink About1999-04-19 Minutes (2)Fayetteville Public Library Board of Trustees Building Expansion Meeting April 19, 1999 Trustees present were M. Thomas, S. Singleion, L. Brewer, L. Gottsponer, M. Goff. Absent were M. Lawrence and M. Roberts due j to illness. Staff members present were L Schaper and M. Saxon. Members of the press present were Jennifer Hanson and Charlie Allison. The meeting was called to oder at 4:06 p.m. 1. L. Gottsponer moved to accept the minutes from 3/15/99, 4/5/99, and 4/6/99. M. Goff seconded. All voted aye. 2. Bond counsel and underwriter selection. a. L. Schaper said that a city selection committee selected the two firms presented here. The selection was made after a review of other proposals. She said the FPL Board will need to approve their selection, then the Gty Council will need to do the same. In both cases, the frons are paid only if the referendum passes and the bonds are issued. b. A short discussion about the selection of bond counsel, Bill Spivey of Wright Lindseyand Jennings was held. L. Gottsponer moved to accept the letter as written by Wright Lindsey & Jennings LIP. L. Brewer seconded. All voted aye. c. The Boatel reviewed the letter from Dennis Hunt of Stephens Inc. for underwriting services for the Fayetteville Public Library ad valorem tax financing. L. Gottsponer moved to accept the letter. M. Goff seconded the motion. All voted aye. 3. The Board discussed the draft "general financing plan" to be presented to Gty CounciL The following points were made: a L Schaper said she draft this plan based on advice from Gty staff that the Board presents a general plan to the Council before it asks for anything in particular. It would be beneficial to have an open discussion before finalizing plans. After Gty Council input, the Board will need to retum to Council for approval of bond underwriter and counsel. b. The Board was unclear about the reasoning behind a thirty-year bond issue, given that it could be paid off sooner if valuations stay flat or if they grow. c. Who pays for the various steps that need to occur before the referendum, e.g. design work, site analysis, poll, and fundraisers? Can we ask the City Council for funding for the building program, design, and site analysis and have it repaid if the referendum passes? d. What is the funding mix? L. Schaper said the people who are familiar with projects funded with millage increases think that 3 mills is too much. If we go for 2 mills, that means we will need to raise 510 million e. When do we do private fundraising? It would be better to go into the referendum with significant dollars raised, yet why would someone want to give without the voters voicing their support? We could ask for pledges dependent on the outcome of the vote or put the gifts in escrow. f. We can't have a referendum without a design and model and we can't do a design and model without a liltrary building program The library building program tells you what's in the building, the spatial adjacencies, and building functions. The architect takes the building program and turns it into a design. g. M. Thomas said a UA professor and class might be able to help with polls. S. Singleton voiced concem about professional pollsters. He would like less professionalism and more citizen -to -citizen connections. h. S. Singleton wondered if someone's millage could be waived if they made a tax deductible contribution. M. Thomas said no. The more funds raised privately, the quicker the bonds will be paid off. M Goff said the more funds we can raise privately, the better. i. L Gottsponer will check with WRMC to see if an appraisal has been done. j. M. Saxon, genealogy librarian, said that a local researcher has found that a civil cemetery for Union soldiers was located somewhere in that area. Whether it was on that property is unknown. The bodies were supposedly moved to the National Cemetery. k L Schaper said she would work on improving the general plan before it goes to Council and get it on the agenda. She will - work with M. Goff on setting up an exploratory committee. The exploratory committee will focus on (1) timing; (2) what people will support privately and publicly. She will begin work on a request for proposal for the design team She will also investigate professional fundraisers. L A motion to accept the general plan was made by S. Singleton and seconded by L. Brewer. All voted aye. 4. L. Gottsponer will work with WRMC administration and Board to obtain documentation of terns for purchase of the property. M. Thomas will call a quick meeting to discuss and/or sign a letter from WRMC if needed. 5. L. Schaper talked about the possibility of a continuing millage to provide support for capital improvements and repairs on the new building, technology and materials. Central Arkansas Library System asked voters to reduce the capital millage once the construction projects were paid off with the reduced millage going for building upkeep, technology and materials. 6. L. Gottsponer moved to adjourn at 5:17 p.m. M. Goff seconded. All voted aye.