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Oanuary 15, 1~?1 <br /> <br />Trustees of Charles A. Cannon Charitable <br /> Trust No. One and No. Two <br />First Union National Bank Building <br />Post Office Box 4&7 <br />Concord, North Carolina 2BO2b-O4&7 <br /> <br /> Attention: Mr. A. P. Braves, Secretary · <br /> Gentlemen: <br /> <br /> In response to your letter oT December 17, 1~0, requesting a <br />proposal Tot a project which the Trust may wish to fund, ! am pleased <br />to present the folIowing request. <br /> <br /> We propose to continue the project of providing funds for the <br />Charles A. Cannon Memorial Library -- Kannapolis Branch for the speci- <br />fic purpose of purchasing library materials. Your generous funding of <br />this project during the past four years has enabled the library to <br />begin t~ build a quality collection of books and audiovisual material. <br />We believe that the continuation of this project will be beneficial to <br />citizens of Kannapo]is and Cabarrus County. <br /> <br /> These funds will be budgeted and spent as follows: <br /> <br /> a. requested <br /> Amount <br /> <br /> b. Bow funds will be spent: Funds will be used exclusively for <br /> the purchase of books and other library materials. The <br /> money will be placed in a separate reserve account io be <br /> drawn upon when ali other appropriated funds have been <br /> spent. The money will be used in addition to ~unds appro- <br /> priated to the Library in any single ~iscal year. <br /> <br /> c. Source of other funds: The Library's regular ~perating bud- <br /> get is derived from money appropriated primarily by Cabarrus <br /> County. <br /> <br /> The Charles A. Cannon Memorial Library - Kannapolis Branch is a <br />componen~ of the Cabarrus Library System, an agency of Cabarrus County <br />and thus as a public agency, is exempt from tax liabiIity. <br /> <br /> tt <br /> <br /> <br />