From the Lafayette Journal and Courier:
Property tax rates will remain almost the same for Tippecanoe County Public Library in 2014.
But the library board will have the funds to undertake some significant maintenance projects at the main branch, at 627 South Street in downtown Lafayette.
The board adopted on Tuesday night a $5.1 million operating budget for next year, roughly $100,000 more than this year’s budget of $5.03 million, said Jos Holman, county librarian.
The estimated 2014 tax rate of .068 cents per $100 assessed property valuation will likely drop closer to the current rate of .0624 cents after the state finalizes the county’s total assessed value in February, Holman said.
“The library rate has not gone past 6 cents since I have been librarian,” Holman noted.
The board also adopted a preliminary bond resolution that will allow the library to continue collecting a tax rate of .0012 cents, which is expected to generate $360,000 next year for the Bond and Interest Redemption Fund.
The fund is allocated for capital projects and has been used to repay the bonds that financed construction of the Klondike branch.
Those bonds will be paid off at the end of the year, freeing up funds to pay for projects at the South Street building that opened in 1989.
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http://www.jconline.com/apps/pbcs.dll/article?AID=2013310010048
