High Plains Library District to Become Debt Free in December
October 23, 2019
October 23rd, 2019
The High Plains Library District (HPLD) is set to be debt free in December and lower its Mill Levy in January. This change is a culmination of a promise made to the communities, that make up the High Plains service area, back in 1999. A Mill Levy Override was approved by voters in 1999 which allowed for an annual increase in funding of $2,577,980 beginning in the year 2000. These funds were used for upgrades to Centennial Park Library, Lincoln Park Library, and member libraries across the District.
After voters approved the Mill Levy Override in 1999, the District secured Certificates of Participation (COPs) totaling $11,930,000 in April 2001. Those COPs were refinanced in 2010 reducing the debt to $9,580,000. At the time the override was approved, The HPLD Board of Trustees promised the community that the District would lower the Mill Levy by $1,000,000 once the COPs were paid off.
“We are proud to deliver on the promise that was made in 1999. On December 15, 2019, the District will be debt free. In January we will be lowering our Mill Levy from 3.249 to 3.177,” said Dr. Matthew Hortt, Executive Director of HPLD. “This was a promise that our Board felt very strongly about keeping and we are happy to do so.”
The High Plains Library District connects communities to information, inspiration and entertainment for life. HPLD includes libraries in Greeley, Firestone, Erie, Kersey, Ault, Eaton, Evans, Johnstown, Platteville, Hudson, Gilcrest and Fort Lupton.