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Lincoln Way 210 board approves purchase of 40 gasoline buses with 7-year financing
Summary
The board voted to buy 40 gasoline buses from Central States and use a seven-year financing plan funded by debt certificates (not to exceed $4.6M) to replace leases; administration said ownership will yield long-term savings and allow in-house warranty work.
Trustees voted unanimously Nov. 21 to purchase 40 gasoline school buses and to finance the purchase with a seven-year installment-purchase arrangement, administration said during a detailed presentation on bus procurement.
Administration recommended purchasing 40 gasoline buses from Central States after bids clustered around $5.8 million. The recommended financing uses a debt-certificate structure with approximately $4,565,000 in proceeds and about $1,164,200 coming from district budget plans in…
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