Board renews three-year Apple lease totaling $3.095 million by unanimous consent
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Summary
The board approved a three-year renewal of the district's Apple lease for $3,095,566.53 (payable one-third per year) during the finance report; the finance director also reported $115 million revenue and $91 million spent to date.
During the finance report, the district's finance official, Mr. Love, asked the board to renew a three-year lease with Apple and provided a summary of fiscal totals to date.
"We have revenue to date of $115,000,000 and we have spent to date $91,000,000," Mr. Love said, then requested approval to renew the Apple lease for three years totaling $3,095,566.53, payable in three equal annual installments. Chair (speaker 5) recorded no objections and declared the lease renewal approved by unanimous consent.
Board members had no substantive questions on the lease during the meeting; the action was recorded as routine and approved without roll-call voting in the transcript.
