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Carousel Tides (edition 2012)
by Sharon Lee
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Kate Archer returns to the tourist town of Archers Beach, Maine, to search for her vanished grandmother, Bonny Pepperidge, and to assume Bonny's role as Guardian of Fun Country, an amusement park whose carousel animals are actually exiled fae criminals. Kate becomes involved in a war of faerie magic, and runs afoul of a very human drug smuggler.
(summary from another edition)