Agenda - 06-21-2011 - 8d - Laserfiche WebLink

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5 WHEREAS, the Parties recognize the mutual benefit and interest of the Parties hereto, and to the public generally, in the County's continued contribution to the Municipal. Library and in the Town's provision of library services to County residents; and WHEREAS, the Parties wish to continue their longstanding relationship under which the County provides annual funding to the Town for library services to ensure such services are available at no charge to County residents; and WHEREAS, the Parties wish, by entering into this Agreement, to establish the terms whereby future County funding of the Municipal Library shall. continue and to establish a mechanism or formula whereby such funding may be appropriately calculated; and WHEREAS, the Parties wish to explore the opportunities for cooperative inter- library services and operability, whereby residents of the Town and the County may have improved access to library resources provided by both Parties: NOW, THEREFORE, in consideration of the foregoing and on mutual promises and obligations set forth herein, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: TERM a. This Agreement shall commence January 1, 2011 for the 2010-2011 Fiscal year and shall continue through June 30, 2015- b. This Agreement may be renewed beyond July 1, 2015 upon written agreement of the Parties_ 2. .COUNTY CONTRIBUTIONS TO LIB°RARY OPERATING EXPENSES a. The County will-contributed to the Town, for general operating expenses of the Municipal Library, a base sum_-+n---lhe-amraii+at-of Two Hundred- Fifty Thousand Dollars ($250,000) far FY 2010 - 2011a~r~~~i}~-,- T;_e~2J0.O00 represents 18°l° of the $1,394.702 operational casfs the Caunty budgeted for its Main Library. Carrboro Cvbrarv and the Carrboro-McDouale Library b. The ; County agrees to increase the base sum shall iasFease by--- for Fiscal year 2011-2012 (subject to budget constraints) with a goat of increasing funding allocated to the Town Library as a percentage of what the County_ spends rn the same flsc~.i ,period for operational costs of the Caunty Library S}'stem -The t,~.~r.sl-ty -~°7_rr~:al.-base sum contribution to the Town Library -surn--shall increase ~y - - _ - ---- f~-each fiscal year through June 30, 2015 until the County's contribution to the Town Library equates to 30 % of what the County a-totaispends annually for operational costs for the County Library System..--payr-neaf-a€ _ _ _ _ _______ ^h1°"°`~ ~ Formatted.: Font: Bold, Underline l