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Agua Fria board approves repayment of lease-purchase financing tied to solar project and Canyon View expansion
Summary
The Agua Fria Union High School District governing board on Jan. 15 approved repayment of a lease-purchase financing arrangement with Capital One Public Funding that staff said was used to acquire solar assets and expand Canyon View High School.
The Agua Fria Union High School District governing board on Jan. 15 voted to repay a lease-purchase agreement and related ground lease tied to prior financing with Capital One Public Funding.
Chief financial staff presented the item, saying the district originally authorized administration to pursue a lease-purchase arrangement to take ownership of solar assets and to finance an expansion at Canyon View High School. The presenter said the board authorized administration to enter the agreement in December 2021 and that the lease-purchase was completed in February 2022; the text of the resolution approved at the meeting identified the financing as a lease-purchase with Capital One Public Funding entered on 02/01/2020.
The administration described the repayment as a fiscal decision to retire the financing now rather than continue scheduled payments…
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