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RESOLUTION 98 - 75
RESOLUTION ESTABLISHING LIBRARY TRUST FUND
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WHEREAS, the Stillwater Public Library Board of Trustees has requested that a fund
call the Minerva Fund be created within the City's accounting structure that would be the
respository for the library for major gifts and other gifts in the nature of an endowment,
and;
WHEREAS, there is presently $63,700 available to start this fund in an account called
Donations, and;
WHEREAS, these funds have been give to the Library by donors who requested that the
funds be invested and that only the interest be spent on uses central to the Library's
mission;
WHEREAS, it has been determined that creation of the Minerva Fund would be in the
City's best interest;
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Stillwater,
Minnesota, that the establishment of the Minerva Fund is hereby approved.
Adopted by Council this 7th day of April, 1998
~-f -j nn Mayor
Attest:
-f ('~ City Clerk
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. Stillwater Public Library
223 N. Fourth St.
Stillwater MN 55082
MEMORANDUM
To: Stillwater City Council
From: Lynne Bertalmio, Director
19 March 1998
The Stillwater Public Library Board of Trustees has requested that a fund be created
within the City's accounting structure that would be the repository for the library for
major gifts and other gifts in the nature of an endowment. To this end, I have asked
Diane Deblon to create a fund called the Minerva Fund. We will start this fund
with $63,700, presently in an account called Donations. These funds have been given
to the library by donors who requested that the funds be invested and that only the
interest be spent on uses central to the library's mission. Honoring the donors
wishes, it is the Board's intent that the interest be used for such purchases as books
and other library materials, information technologies, and access to information
sources (i.e. electronic resources and data bases, etc.).
The Board of Trustees requests that the City Council pass a resolution marking the
establishment of the Minerva Fund, recognizing the important role that individuals
have made and continue to make in the support of the Stillwater Public Library.
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~ STILLWATER PUBLIC LIBRARY
1998 Capital Budget Release - pt. 2
At its March 10, 1998, meeting, the Board od Trustees passed a motion requesting the
release of the second portion of the library's 1998 capital budget. In addition, they
voted to reallocate the funds from the starred (~') items below to the redesign of the
circulation/delivery area for the purpose of improved ergonomics.
*Newspaper cabinet 800
*New terminals for Circulation Dept. 750 (2 Q $375)
*Replacement theft detection desensitizer 175
*Replacement theft detection sensitizer 150
Redesign circulation/delivery area 9800
• TOTAL 11,675
3/19/98
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