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FRASER VALLEY REGIONAL LIBRARY

Headquarters: 34589 Delais Road, Abbotsford. Brith Columbia V23 SY! (104) 859-7141

July 7, 1994

Mayor L. Traboulay

City of Port Coquislaxa
2580 Shaughnessy Street
Port Coquitlam, B.C.
V3C 2A8 Mayors/Chairs

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Dear Mayor Traboulay:

The funding formula was reviewed by the Finance Committee at its meetings held on
April 20th and June 27th. The Committee considered your letter of April 19th as past of
its review and thanks you for your comments.

At its meeting held July 7, 1994, the Fraser Valley Regional Library Board passed a motion
recommending the adoption of the present funding formula of 50% population and 50%
lagged actual assessment as the funding formula for the Fraser Valley Regional Library for
the 1995 budget year.

In light of this motion, I am writing to inform you of this recommendation and request that
your Council vote on the 1995 funding formula and respond by July 21, 1994.

Your Council’s response by the noted date would be most appreciated.

Late

Paul T, Hinton
Acting Director

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CC- Councillor Stewart, FVRL Board Member

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JUL. @? '94 13°30