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May 14, 2008 MINUTES Parmly Billings Library Funding Committee Present: Dave Ward, Chair; Shoots Veis, City Council Member; Jim Reno, County Commissioner; Lloyd Mickelson, Library Board Chair; Bill Cochran, Library Director; Pat Weber, City of Billings Financial Services Manager; Ann Miller, Community Advocate; Gene Wegner, US Bank; Sandy Raymond, Library Senior Administrative Coordinator Introductions Committee members were introduced. Power Point presentation • Raymond reported on the Library’s financial information for the past 10 years, current budget year and cash flow projections • Cochran reviewed the Library’s Per Capita Funding which included comparisons to other Montana libraries and to national peer libraries • Cochran and Veis discussed Veis’s concern regarding the mill levy and the language in the City Charter; they agreed to address it during the City budget process Possible future funding options Weber reported on the various financing options available to the Library • Revenue Bonds • Tax Increment • Grants/Appropriations • Private • Public Library District • Non-voted General Obligation • Voted General Obligation Adjourn