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Salem School Board approves $359,894.68 copier lease; total cost cited as $407,716.40
Summary
The Salem School Board voted 5-0 to approve a four-year tax-exempt lease to replace district copiers, selecting Ricoh as the low bidder; board discussion clarified principal, interest rate and timing of payments.
The Salem School Board voted 5-0 Tuesday to approve a tax-exempt lease to replace district copiers, selecting Ricoh as the low bidder and authorizing financing through MST Government Leasing LLC.
Board members approved a motion that set a principal not to exceed $359,894.68 and an interest rate of 5.19% per year, with the motion citing a total expenditure over the lease period of $407,716.40. The board also approved a separate motion authorizing the superintendent to execute the lease and related contracts with Specialized Purchasing Consultants, Inc., by a 5-0 vote.
Board members and staff said the district currently operates about 112 printing and…
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