Sweden and Clarkson establish capital reserve funds for Seymour Library
At their respective town board meetings on May 14, the Towns of Sweden and Clarkson established individual capital reserve funds for the Seymour Library. The two towns and the Village of Brockport jointly own the property. The Town Board resolutions were nearly identical and stated in part: “the Town Board has expressed the desire to maintain the property known as the Seymour Library in good repair in the interest of public safety and to protect the taxpayers’ investment in same. From time to time a major repair project may arise that would require an expenditure from the three municipalities in addition to the contractual share of the Seymour Library’s annual operating budget.”
Establishing capital reserves is the first action the municipalities could take following the release of the Bonadio report which made several recommendations regarding the financing and operations of the Seymour Library. The municipal boards and the Seymour Library board will be meeting separately and jointly over the coming months to develop additional action items.