HomeMy WebLinkAbout1999-05-17 Minutes (2)Fayetteville Public Library
Board of Trustees Building Expansion Meeting May 17, 1999
Corrected Version (6/21/99)
)Trustees present were M. Thomas, S. Singleton, L. Brewer, M. Goff, M. Roberts and M. Lawrence. Absent was
L. Gottsponer. Staff member present was L Schaper. Members of the press present were Sarah Fisher (NWA
Times), Charlie Allison (Morning News), and Lori Harrison -Stone (AR Dem. Gazette)..
The meeting was called to onler at 4:05 p in.
1. M. Goff moved to accept the minutes from April 19. L. Brewer seconded. All voted aye.
2. Bond counsel and underwnter selection.
a. L. Schaper introduced Dennis Hunt, Stephens Inc. as the Board -selected underwriter. Mr. Hunt
presented the Board with a document outlining financial alternatives. He said that if interest rates go
down, there is increased ability to issue debt. He walked the Board through three scenarios: 1 mill, 2 mill,
and 3 mill with either 0 or 3% growth in valuation. He said the homestead exemption would likely have
some impact. He reminded everyone them is a reappraisal every three years and that the taxes cannot go
up over 10%; if they do a mllback will take place. M. Thomas thanked Mr. Hunt for his presentation.
3. M. Goff, chairwoman of the Exploratory Committee, announced that the first would take place May 21
1999. She expected about ten people to come brainstorm and see what is possible in the area of fundraising
for the new library.
4. The topic of professional fundraising consultants was raised. There was general consensus that we would
want to hire this type of consultant L. Schaper discussed the two libraries she spoke with who had used
such consultants with positive results. However, she said these were in small towns in the Ivlidwest and were
much smaller projects.
5. S. Singleton asked if we should consider raising the funds to buy the property now. He asked if we could
start that on a grass roots level either before we hire a professional fundraiser or shortly thereafter. M.
Thomas said we had a several year window in which to finalize the purchase.
J6. The meeting with Qty Council to discuss the general finance plan was discussed. Lorraine Brewer would be
doing the pnmarypresentation. L. Schaper said that the library's presentation was on the agenda before the
resolution that would put a moratorium on new taxes in the city.
7. L. Schaper said she would be working on putting together the RFP for the design team.
8. Foundation status was not covered.
9. S. Singleton moved to adjoum. M. Roberts seconded. All voted aye The meeting adjourned at 5:10 p.m
