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Board authorizes pursuit of lease-purchase for two air-conditioned activity buses
Summary
District staff recommended pursuing a lease-purchase to acquire two newly available air-conditioned activity buses now rather than waiting a year; board approved authorization to pursue the lease-purchase and financing options.
District staff told the board that two air-conditioned activity buses unexpectedly became available and recommended the district pursue a lease-purchase to acquire them now rather than waiting a year to order new units. "They are holding those 2 buses for us so we can work out details if you authorize me to move forward," a staff speaker said.
Staff described options for financing through a fiscal agent and potentially Citizens Bank or another lender, and compared capacities and costs. Speakers discussed passenger capacity differences—about 83 passenger activity buses versus roughly 61 for the new coaches mentioned—and price quotes given verbally in the meeting. One participant said the quoted price for the buses discussed was "$1.83" while another earlier used a different figure; transcript speakers did not specify currency units for those per-bus figures during the verbal discussion.
After discussion about cost, timing and financing terms, the board moved and approved authorization for staff to pursue the lease-purchase agreement and related financing to secure the two activity buses.
The board did not finalize a financing vendor in the meeting; staff were authorized to negotiate terms and return with final agreements.
