Mahomet Public Library library trustees voted 4-0 Monday to seek bids for the sale of bonds.
On Monday, trustees met with Steve Larson, a financial adviser from Ehlers and Associates in Lisle who explained how to get maximum income from the bonds. Trustees voted Monday to follow Larson's advice, including purchasing bond insurance and investigating investment services. Trustees will soon consult with Larson, who will seek bids for the bonds on their behalf.
According to library director Lynn Schmit, construction on the new library will begin in the fall and continue for 18 months. The bonds will pay for building and furnishing the library, which will be on U.S. 150 in Hunter's Ridge subdivision.
The proposition, which would have raised taxes 8 cents per $100 assessed valuation, failed in February and left trustees with questions on how they will afford to operate the new library. June Holmes, library board president, stated that they are brainstorming ways to generate money for operating funds. They will look at the money they have and see what services they will be able to offer.
Schmit reported a private donation of $1,000 to the building fund. She also said that Papa John's will set up a trailer near the library once a week to sell pizzas. For each pizza sold, $1 will be donated to the library.