Currently, the Library is ranked on a list of potential grant recipients from the State of Illinois. Although no funds have been allocated for the Library grant, representatives of the Galesburg Public Library are hoping to keep their spot on the list in the instance funds are allocated.
The City of Galesburg now has the opportunity to make that happen by purchasing $5 million in debt certificates.
The Library must prove to the state by a set deadline they are in possession of the 25-percent matching grant funds, or $5 million.
A special work session meeting between the two bodies was held prior to tonight’s meeting to give aldermen an opportunity to ask questions.
Galesburg’s City Administration is recommending only $2 million in debt be purchased.
In addition to the transaction, the City Council is also expected to approve an advisory referendum asking the public whether a new Library should be constructed.