Board establishes CDs for funds returned from Jamestown Community Foundation

Masaki Ova / The Jamestown Sun file photo

The Details

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.

JAMESTOWN — The James River Valley Library System Board of Directors approved on a 6-0 vote establishing certificates of deposit with various banks in Jamestown with the more than $380,000 in funds that were returned from the Jamestown Community Foundation.

Library board member Denise Waldie was absent from the meeting on Thursday, Nov. 12.

The library system will establish a CD of about $250,000 from Meidinger’s donation at Dacotah Bank at a special rate. Another CD of $100,000 from Meidinger’s donation will be established at First Community Credit Union.

Joe Rector, library system director, and library board members Jackie Barnes and Meranda Vetsch were authorized to be the CD signers.

A CD of more than $37,500 will be established with the funds raised by the late Bill Kennedy, a library system supporter, at Bank Forward.

The library board approved in October to have more than $380,000 in funds held by the Jamestown Community Foundation returned to the library system. The Jamestown Community Foundation Board of Directors recently approved capping accounts held for local entities at $50,000.

The library system had over $340,000 from Shirley Meidinger’s donation to the library system in her will and another $37,500 that was raised by the Kennedy that were held by the Jamestown Community Foundation.

Board establishes bookmobile replacement fund CD

The library board unanimously approved establishing a CD of $190,000 at Bank Forward.

Rector, Barnes and Vetsch were authorized to be the CD signers.

Rector said the library system has more than $60,000 saved toward a new bookmobile. He said the library board approved a $250,000 transfer into its building fund once the new memorandum of agreement was signed to provide joint library services between the city of Jamestown and Stutsman County earlier this year. He said the library system also had another $250,000 from last year.

Rector said the current bookmobile was purchased for $239,000 about 10 years ago.

“My anticipation is in five to 10 years, it'll be a significant cost, and I think we have the opportunity now to set some money away and let it grow interest-wise,” he said.

Rector said the library system has funds available for any unplanned repairs.

In other business, the library board unanimously approved: a quote by EBSCO to host the library system’s website. The annual price will be $5,900 for the first year, almost $6,200 for the second year and about $6,500 for the second year. Using EBSCO allows the library system’s website to be compliant with the Americans with Disabilities Act. Public entities with a population of 50,000 or more are required to have ADA compliant websites by April 2028.

a $5,200 quote by LD Concrete to remove and replace concrete that has been damaged by a leaking pipe in the floor of the men’s and women’s restrooms. Rector said the quote is for replacing the entire floor in both bathrooms and the work could cost less.

MORE ON THE JAMES RIVER VALLEY LIBRARY SYSTEM

Library board approves returning funds held by Jamestown Community Foundation Oct 15 Stutsman County Commission approves draft budget for 2027 Oct 5 Jamestown City Council, county commission still considering library system budget Oct 1 Stutsman County Commission reviews library system's recent budget request Sep 17 Comments Share this article News Reporting News Reporting Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.

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Masaki Ova joined The Jamestown Sun in August 2021 as a reporter. He grew up on a farm near Pingree, N.D. He majored in communications at the University of Jamestown, N.D.

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