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Library seeks $7.5M appropriation to prepay/refund library bonds; public raises concerns about Brooks Hall collections
Summary
The Library Commission asked the Budget & Finance Committee to approve a $7.5M appropriation from general reserve to reduce lease revenue bond debt and pursue refunding; the committee recommended approval but public commenters warned the move lacked public process and could further remove collections from public access.
The San Francisco Public Library requested the Board's Budget & Finance Committee approve an ordinance to re-appropriate roughly $7.5 million from the FY2016 general reserve to pay down lease revenue bond debt and pursue refunding that the Library and the Comptroller's Office of Public Finance identified as producing long-term savings.
Library staff said the…
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