ExpressionEngine 2: Sharing Libraries, or Loading Libraries from other Modules

Question

I’ve got a number of custom modules that use a few of the same common libraries, in particular my database class.

Is there a place I can put this commonly used class for use in modules via

$this->EE->load->library('mydb');

or, is there a way to load that class in one module when it’s located in the libraries folder of another module?