Poplar Bluff library to repay city almost $500K

POPLAR BLUFF, Mo. -- The Poplar Bluff Municipal Library District has agreed to repay the city $489,833.98.

"The library agrees to pay back monies provided by the city that supplemented library operations for the tax years 2008-2012," library director Sue Crites Szostak said during a city council meeting earlier this week.

The library will make annual payments of $97,966.80 for five years, beginning Dec. 1, according to a memorandum of understanding between the library and the city.

Interim city manager Mark Massingham said the library began collecting a one-fourth cent sales tax Oct. 1, 2012, and has become a separate entity.

With the sales tax revenue, the library can build reserves and repay the city, Szostak said.

"We also will build a six-month operational budget," said Szostak, who thanked the city for its support over the years. "This library is considered one of the best libraries in the state."

A proposed lease agreement between the city and the library also was discussed.

Massingham said the library will sign a five-year lease for $1 per year.

"Then we will transfer the building and parking lot to the library," Massingham said.

Council members moved action on both documents to the June 16 voting session.

Mayor Angela Pearson commended Szostak for being "an amazing library director."