On April 4, 2017 voters were asked and approved the following question:
Proposition to Issue: $21,800,000 Library Bonds
Shall the bonds of the Geneva Public Library District, Kane County, Illinois, in the amount of $21,800,000 be issued for the purpose of erecting a building to be used as a library on District-owned property, improving said property, including parking, and furnishing necessary equipment for said library building?
WHAT DOES THAT MEAN?
Geneva Public Library District asked residents to issue general obligation bonds to fund the construction of a new, larger facility on land already owned by the District at 227 S. Seventh St.
Using current cost estimates, the tax impact for offering an expanded Geneva Public Library is $98.70 per year, or $8.23 per month for the owner of a home with a $300,000 market value. This increase is for your entire household and would provide you with a new facility offering more space for collections, programs, and technology as well as a drive-up window and parking lot. All areas of the Library and parking lot will be ADA compliant, and access to the Library will greatly improve for people with disabilities and families with strollers.
The bonds will be paid off (like a mortgage) over 20 years from when they are issued, and once they are paid off the District will again be debt-free. The District did NOT ask for an increase to its limiting rate which would raise taxes in perpetuity. The District has continually lived within its means to provide library services to community members at all ages and stages of life without charging additional fees for service.
The Geneva Library Board of Trustees voted unanimously Dec. 22 to place a bond question on the April 4, 2017 ballot asking voters to approve issuing $21.8 million in 20-year bonds to pay for a new library at 227 S. Seventh St.