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Jennings County board approves lease for six ready-to-rent school buses
Summary
The Jennings County School Corporation board approved leasing six ready-to-rent buses with a seven-year payback schedule to be paid from operating funds and an interest rate of 4.5%. The motion passed unanimously.
The Jennings County School Corporation board voted to approve a lease for six ready-to-rent school buses, the board heard at its regular meeting.
Board members were told the buses are available now rather than newly manufactured, shortening lead time. Staff proposed financing with a seven-year payback schedule to be paid from operating funds and cited an interest rate of 4.5 percent. The board’s motion to approve the lease was made by Mary Lynn and seconded by Chelsea; the chair announced the vote as in favor with a tally of seven.
The presentation emphasized timing: staff said the district had previously approved a purchase order about a year ago because vendor lead times had lengthened, and the available vehicles are now ready for delivery. No additional details on the vendor, total contract value, or monthly payment schedule were provided in the meeting; minutes and the packet were referenced for line-item amounts.
Next steps: staff indicated they would proceed with lease paperwork and payment arrangements under the approved terms. The board did not request additional public hearings or require further board-level approvals beyond the motion that passed at the meeting.
