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Library Board Starts Fund For Construction
A special reserve fund has officially been created for the money that is being given to the Galesburg Public Library for its construction project.

The Library Board of Trustees yesterday voted to reaffirm an action that was taken in October, to move funds from the library's capital fund into the special reserve that will be used for costs associated with the new library, and any projects that may be needed on the current facility as well.

Library Board president Martin Reichel says the new reserve fund will prove to be helpful right away.

"One of the reasons behind doing this, I think, is to give us some more flexibility when it comes time when we may have to start spending money on things related to the property," says Reichel.

Reichel says it can take some time to get money from the Library Foundation, which will officially be raising money for the project, so it's important to have the reserve fund in place.

While over 300-thousand dollars is already being transferred, more could end up there depending on how the final budget for the 2012 calendar year shakes out.

Interviews with potential construction managers on the 15-million dollar project are scheduled for Tuesday, Wednesday, and Thursday of next week.
01 04 13 by Newsroom
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