Reserve Fuad for Expansion, Books

Ald. Wright said it was the recommendation of the
Finance Committee that the Recreational Facilities Fund
grant together with proceeds of the sale of the old
headquarters building be placed in a reserve fund to

be used to pay for 25% of the cost of buying new books
for new or enlarged branch libraries, with a further
25% being paid out of the system budget and the re-.
maining 50% from municipal funds. The purpose was to
set up a reserve for books which could be used to
defray system taxes for several years.

Alds. Luers and Macdougall opposed the recommendation
on grounds that municipalities expected the grant and
sale proceeds to be applied against the 1980 budgets
as per earlier motions adopted by the Board.

It was meved by Ald. Macdougall and seconded by Aid.
Wright that the Board support*in principle the recom-
mendation cf the Finance Committee to establish a
reserve fund for books for new or enlarged branches
and that this be referred to each municipal council
for discussion.

The Director was asked to produce a short summary
showing what.each library tax assessment would be

with and without the reduction of the amount received
from the Recreation Facilities Grant. ‘This information
could be sent out with the minutes. .

The motion Carried.