Statement before the Glenn A. Walsh
Special Meeting: Telephone: 412-561-7876
Proposed Refinancing Electronic Mail: < email@example.com >
Of 2002 Carnegie Library Internet Site: < http://www.andrewcarnegie.cc >
Bond Issue 2010 March 30
Good morning, I am
Glenn A. Walsh of
In October, Carnegie Library proposed closing five library branches. $1.2 million, spread equally over two years from the City, prevented the closures in 2010. However, Carnegie Library management has already stated that $600,000 will not be enough to prevent closures in 2011.
Carnegie Library now wishes to refinance their 2002 bond issue, stating that this could result in an additional $400,000 for the library system. Yet, they claim that this additional money can only be used for capital projects.
It seems to me that they obsess over these capital projects, while later this year they will again plead poverty and propose closing library branches in 2011. To prevent such closures, in August they will ask you for more RAD funds for 2011.
Today I have two requests:
1) I ask a ruling from your legal counsel. Is there any legal reason why additional money received from such a bond refinancing cannot be placed in Carnegie Library’s operating account, to be used with the additional City money to keep all library branches open in 2011?
2) If your legal counsel rules that such bond refinancing receipts can legally be placed in the Library’s operating account, and if you choose to allow Carnegie Library to go forward with this refinancing plan, then I ask that you require all additional monies received from such refinancing to be placed in the Library’s operating account, to assure that all library branches remain open in 2011.