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54 <br />WHEREAS, the Town has historically provided library services to County <br />residents outside of the Town's corporate limits at no charge and on the same basis as <br />such services are provided to Town residents in accordance with KC General Statute <br />Sec, 153A -264; and <br />WHEREAS, the Parties have not previously Instituted a formal written agreement <br />to direct or calculate the County's annual contribution in support of Municipal library <br />operations; and <br />WHEREAS, the Parties recognize the mutual benefit and interest of the Parties <br />hereto, and to the public generally, in the County's continued contribution to the <br />Municipal Library and in the Town's provision of library services to County residents; <br />and <br />WHEREAS, the Parties wish to continue their longstanding relationship under <br />which the County provides annual funding to the Town for library services to ensure <br />such services are available at no charge to County residents; and <br />WHEREAS, the Parties wish, by entering into this Agreement, to establish the <br />terms whereby future County funding of the Municipal Library shall continue and to <br />establish a mechanism or formula whereby such funding may be appropriately <br />calculated; and <br />WHEREAS, the Parties wish to explore opportunities for cooperative Inter- library <br />services and operability, whereby residents of the Town and the County may have <br />improved access to library resources provided by both Parties: <br />NOW, THEREFORE, In consideration of the foregoing and on mutual promises <br />and obligations set forth herein, the receipt and sufficiency of which Is hereby <br />acknowledged, the parties agree as follows: <br />1. TERM <br />a. This Agreement shall commence January 1, 2012 for the remainder of <br />the 2011 -2012 Fiscal year and shall continue each fiscal year thereafter <br />through June 30, 2015. <br />b. This Agreement may be renewed beyond July 1, 2015 upon written <br />agreement of the Parties. <br />2. COUNTY CONTRIBUTIONS TO LIBRARY OPERATING EXPENSES <br />a. The County contributed to the Town, for general operating expenses of <br />the Municipal Library, a base sum of Three Hundred Forty -two <br />Thousand Nine Hundred Eighty -Six Dollars ($342,986) for FY 2011 - <br />2012. The base sum represents 21% of the total operational costs <br />