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Cottage Grove library campaign to use segregated account; referendum set for April 1
Summary
Village finance director outlined a new segregated library capital campaign account and timelines for a silent fundraising phase. The Friends group pledged a staggered gift and discussed transferring land to support the project, all contingent on an April 1 referendum.
The Village of Cottage Grove Library Board heard Jan. 15 that the library capital campaign will use a segregated library account to track donations for the proposed library project, and that campaign activity will remain contingent on a referendum scheduled for April 1.
Cameron Swagger, the village finance director, told the board the campaign team and staff “decided that it made the most sense to get a segregated library capital campaign account. So every dollar of that activity will flow independently of any village asset.” He said the account will be a library board account with the library board president and the treasurer as authorized signers.
The arrangement,…
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