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By SHARON KILPATRICK
BappahannoekNcw* Staff Writer
The Library Board is making progress in handling its investments to satisfy the county auditor and the state Library Board.
Member John McCarthy reported that the finance committee had met and was studying how to set up endowment funds that would help the library qualify for state aid and provide for the present and future needs of the library.
At last Thursday’s meeting, the board took the advice of James Jamieson and voted to invest $50,000 in 30-year Treasury bonds. This combined with another approximately $54,000 invested in bonds will be invested to produce current income.
Another $40,000 to $60,000 will be used to start an endowment fund invested for growth. The finance committee hopes that fund will grow to take care of potential future expansion.
The board also voted to get two
89.9%