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Greenwood library asks council to approve replacement bond to maintain facility
Summary
The Greenwood Public Library director requested the council approve a replacement bond of $2.5 million to address building maintenance needs, saying the loan would not raise taxes and would be issued later in the year.
The Greenwood Public Library director told the Greenwood Common Council she is seeking approval for a $2.5 million replacement bond to cover deferred maintenance and safety upgrades at the library.
The library director said the bond would be a “replacement bond” rather than a new tax increase and described a stepped schedule for repayment that shows a temporary bump in 2026 that the library plans to absorb with its existing bond and interest redemption fund. She asked the council to approve the agreement authorizing the issuance but said the library likely would not issue the bonds until later in the year.
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