What do you think of the City of Galesburg purchasing $2 million in debt certificates for the Galesburg Public Library Foundation’s construction of a new library?

Sounds like a good investment in our community, as it helps the library “stay in the running” for matching funds that would cover 75 percent of the cost of the construction of a new library; and if the library foundation doesn’t get the grant from the state, the city will get their $2 million back sooner.  The library needed to secure $5 million in funds, so with the City Council voting to purchase $2 million of the debt certificates, the Galesburg Public Library Foundation will acquire $3 million of the certificates issued.  Agreed upon stipulations from the city further reduce the risk factor with the loan.  One of those stipulations is that the library must use the grant money it receives before using the money lent by the City of Galesburg.  With all the advances in technology to come, hopefully our new library would be a great research facility with computers and classes, open more hours; and personally, I’d like to see Lonnie Stewart’s statue of Carl Sandburg welcoming all to our splendid library grounds.