Members of the North Judson-Wayne Township Library Board presented an additional appropriation request to the Starke County Council members Monday night.
It was explained by Board Member Nathan Origer that somehow the library paid over the course of the lease repayment on the bond issued for a building project in the 1990s, there was an overpayment on the repayment.
“Once the final bond payment had been made, we had a significant amount of money sitting in that Debt Service Fund that we no longer needed in order to pay off the debt because it had been paid off.”
The overpayment amount came back to the library and the board members would like to use that money to make some improvements to the fixtures and structure issues ahead of the library’s 100th Anniversary next year.
The board members consulted with the State Board of Accounts on how to properly utilize the money and appropriate it to move forward with the plans. The library board approved the transfer of money from Debt Service to the Operating Fund. By doing it this way, Origer said the library would not need to seek another bond issuance to pay for the improvements.
Origer noted that it’s not any new taxpayer money being used. It’s previous money that’s available for these plans.
The appropriation amount was $125,000.
The council members unanimously approved the additional appropriation request.