MUNICIPAL FINANCE: City has an $11 million library surplus 

by Mark McDermott The City Council last week grappled with an unusual problem. Its library fund has an $11 million surplus. The City of Manhattan Beach operates its own library, but the facility is a branch of the Los Angeles County Library System. Property taxes paid into the system by local residents far outpace the cost of operating the library, resulting in the surplus —  including a $1,455,730 surplus for the last fiscal year alone. The  funds can only be used