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Board approves corrected bank depository award, lease assignment and consent agendas; multiple finance items cleared
Summary
The Jackson Public School Board voted on several finance and contract items May 6, including rescinding and reissuing the bank depository award to Trustmark National Bank at a corrected interest rate, approving a lease assignment for I-20 property, and passing consent agenda items covering finance, general business and personnel.
The Jackson Public School Board on May 6 acted on several finance and contract items during its meeting, approving a corrected bank depository award, a lease assignment of district property, and multiple consent-agenda packages.
Board members voted to rescind a prior award and re-approve Trustmark National Bank as the district’s bank depository for a three-year term (July 1, 2025 90 June 30, 2028) at a corrected interest rate of 4.25%, according to Executive Director of Business Services Margaret Purnell. The board also approved related finance items in a combined motion.
The board approved an assignment and assumption of a lease for a sixteenth-section property (identified as tax parcel 20 One-two) at 970 I-20 West Frontage Road, under which LB Petroleum LLC will assume the existing TA Operating LLC lease terms. The administration said the lease assignment carries an annual payment of $83,700.
Separately, as part of the consent agenda votes, the board approved finance, general and personnel consent packages after brief staff updates. The board also authorized engaging MSC & Associates to pursue recovery of unclaimed funds on behalf of the district under a contingency arrangement (the vendor receives 20% of any recovered funds, the district 80%).
Motions and outcomes (selected): - Rescind and re-award bank depository (Trustmark National Bank) at corrected rate (moved by Dr. Harrison; seconded by Miss Hilliard) — motion carried by voice vote. - Approve assignment/assumption of I-20 lease to LB Petroleum LLC (presented by COO Mr. Burke) — recommended by administration and approved during consent items. - Approve consent agenda: finance, general, personnel (moved and seconded as announced at meeting) — motions carried.
Board members discussed procurement timing on a separate demolition bid item and noted that demolition permits were approved by Mississippi Department of Archives and History but that earlier pricing was more than a year old; the administration said it will reprocure demolition pricing under current procurement rules.
Ending: The board recorded the actions by voice votes; the transcript records movers and seconders for motions and shows approval for the consent packages and individual finance items discussed.
