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Francis Howell R-III board approves lease-purchase to finance technology equipment
Summary
The Francis Howell R-III Board of Education approved a lease-purchase agreement with Clayton Holdings LLC during a May 6 special meeting to finalize financing for technology equipment previously authorized on April 17; an attorney's opinion is due before closing on May 7.
The Francis Howell R-III Board of Education approved a lease-purchase agreement with Clayton Holdings LLC on May 6, 2025, to finance technology equipment the board authorized on April 17.
Director Carol Embree said the special meeting was called because the closing is scheduled for May 7 and the board needed to approve the final documents. "You will recall that on April 17, you approved the purchase of technology equipment, and you also authorized the execution of the lease purchase agreement with Clayton Holding Savings," Embree said. "The closing date is scheduled for May 7, and that is why we need this special meeting."
Embree told the board an attorney opinion would follow the board vote. "Our attorney will issue an attorney opinion following the approval of the actual lease document that has been posted on BoardDocs for your preview," she said. Board members did not pose substantive questions about the financing during the meeting.
A motion to approve the lease-purchase agreement and associated documents was made and seconded; the second was recorded as Jane. The board approved the measure by voice vote; the meeting record shows only that members said "aye," and the chair declared the ayes have it. The special meeting also approved the meeting agenda for May 6 and then adjourned after the lease vote.
Board members who spoke by first name in the transcript included Jane, Amy, Ron and Steve; the meeting was opened and conducted under the authority of the Francis Howell R-III Board of Education. The documents supporting the lease were posted on BoardDocs, and the director said additional bid items will be presented for vote at the board's May 15 meeting. The meeting concluded after the voice vote and a motion to adjourn.
