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In summary,the FoPLCL is requesting to have the Endowment monies returned so it <br /> can invest them for the future benefit of the City of Pequot Lakes Library. This total to <br /> be returned is$123,661.38. This leaves approximately$60,000 in the City to run the <br /> Library for the foreseeable future. <br /> A final comment or two. First,this is the right thing to do. Second,in the long run,this <br /> is highly likely to benefit the Library significantly as the FoPLCL has broader investment <br /> options at its disposal than a municipality. Over time,this should provide greater <br /> funding to run the Library well into the future thereby benefitting both the City and its <br /> Citizens. <br /> Please feel free to contact either one of us ifou have any y questions. In addition,we are <br /> available to meet with you individually at your convenience prior to a regular City Council <br /> meeting. <br />