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January <br /> <br />Trustees of Charles A. Oannon Charitable <br /> ~us~ No. One and No. <br />~rst Un~n National Bank Building <br />~o~t Office B~ <br />Concord, North Carolina <br /> <br />Att~n~ion: Mr. A. ~. Graves~ Secretary <br /> <br />Gentlemen: <br /> <br />In response to you~ letter o~ December 17~ 199I, requesting a <br />proposal for a pro,eot ~hiCh the Trust may ~ish ~o ~und, ! am pleased <br /> present ~he following request. <br /> <br /> We propose to continue the pro~ec~ of providing funds ~or ~he <br />Charles A. Cannon Memorfa! Library - Kannapolis Branch for the speci- <br />fic purpose of purchasing library mater~als. Your generous ~unding ~ <br />th~s p~oSect during the past four years has enabled the library to <br />begin ~o build a quali~y collection o~ books and audiovisual ma~eriaI. <br />We believe that the continuation of th~s project ~i1! be beneficial to <br />citizens of Kannap~lis and Cabarrus County. <br /> <br />These funds will be budgeted and spent as <br /> <br />Amount requested - $55~000. <br /> <br />Wow {unds will be spent: Eunds will be use~ exclusively ~o~ <br />the purchase o{ books and other library materials. The <br />money will be placed in a separat~ reserve a~count to be <br />dra~n upon ~hen all othe? appropriated funds have been <br />spent. The money will be used in ~ddition to funds appro- <br />priated to the Library ~n any single fiscal yea?. <br /> <br />Source of other funds: The Library's regular operating bud- <br />ge~ is derived ~rom m~n~y appropriated primarily by Cabarrus <br />County. <br /> <br /> The Charles A~ Cannon Memorial Library - Kannapolis Branch is a <br />componen~ o~ the Cabarrus Library System~ an agency o~ Cabarrus County <br />and thus as a public agency, ~s e~empt from tax liability. <br /> <br /> <br />