The URL can be used to link to this page

Home My WebLink AboutNovember 1, 2010 Agenda Packet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´WKHULVNRIWUHHGVWUHHWVZDV TXHVWLRQDEOHFRPSDUHGWRRWKHUW\SHVRI DFFLGHQWVDORQJZLWKWKHLQFUHDVHGEHQHILWRI WUHHVRQKXPDQEHKDYLRUKHDOWKSDYHPHQW ORQJHYLW\HWFµ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