Trustees of the Central Arkansas Library System last week approved a plan to set an election on a proposed $32 million revenue bond issue.
The vote will be this year, trustees said, but the election date was not set.
Trustees said they avoided setting a date to avoid conflict with Little Rock Mayor Mark Stodola’s plan to ask voters to approve an increase in the city’s 0.5% sales tax for operations and capital projects.
City directors will begin the process this week of determining projects to be financed with the tax increase.
Stodola did not specify when a vote might be set.
Library system director Bobby Roberts had discussed a July election, but he told trustees last week it did not matter if the library election was before or after the city tax vote.
The regional library system serves Little Rock and its surrounding communities.
Roberts said the bonds would finance additional archive storage capacity at the Arkansas Studies Institute in downtown Little Rock, an auditorium at a branch library, the acquisition of electronic books and databases, and the purchase of a site for a new branch library in west Little Rock.
Proceeds would also refinance the outstanding debt from a 2004 library bond issue.
Voters would be asked to renew an existing property tax for the library, but at a lower rate, for 20 years or earlier if the debt is retired ahead of schedule.
If the tax were renewed, it would cost the owner of a $139,200 home less than $5 per year.
Little Rock’s library construction bonds are rated AA by Standard & Poor’s.