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Page 2 of 4 <br />---------- - - - - -- <br />Foundation. This is required for this loan because this is the <br />only interest bearing loan. When the Larsen Foundation is <br />repaid, this money will be released and available for use. <br />How Will the Library Purchase be Funded? <br />$31,365.26 From the Library Building Fund <br />$605000 3 private interest -free loans <br />$509000 1 5 -year loan at 3% Interest from the Larsen Foundation <br />$47,000 Cash Gifts Donated to the Library as of 6/18/09 <br />$1875365.26 (Total Cost to Purchase the Building) <br />Library Certificates of Deposit <br />The Library is requesting to redeem the following <br />certificates of deposit: <br />• Lakes State Bank: <br />• Lakes State Bank: <br />• Lakes State Bank: <br />• American National Bank: <br />• TOTAL <br />#21340 <br />$109573.99 <br />#21850 <br />$ 109376.71 <br />#21871 <br />$109277.75 <br />#6097 <br />$1086.01 <br />$41,314.46 <br />(The above CDs will be used toward the purchase of the <br />building including repayment to donors.) <br />• Lakes State Bank: <br />#365 $409063.25 <br />This CD comes due on July 2nd. The Library Board has <br />requested to redeem this CD. Some of the money will be <br />-*IN <br />