Statement before the Glenn A. Walsh
Allegheny Regional
Asset District
Special Meeting: Telephone: 412-561-7876
Proposed
Refinancing Electronic Mail: < gaw@andrewcarnegie.cc
>
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.
Thank you.
gaw