Make Space for Library GOs

The Central Arkansas Library System will hold a public meeting this week on plans to issue $32 million of general obligation bonds for system upgrades.

Proceeds would provide $17 million to expand the system’s archive space and build a 350-seat auditorium at the main library in downtown Little Rock.

The library system also would refinance a 2004 bonds issue with the ­proceeds.

Voters could be asked in June to extend by seven years an existing property tax to support the bonds. Although the library district serves most of Pulaski County, the election would be limited to Little Rock voters.

The bonds would be issued by the city of Little Rock.

The property tax was first approved in 1994 and renewed in 1998 and 2004.

If voters approve, the system would spend $10 million to expand the archival storage space at the Arkansas Studies Institute, $4 million to acquire new books and computers, $2 million to expand a branch library, and $1 million to acquire land for a new facility.

Little Rock’s library construction bonds are rated AA by Standard & Poor’s.

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