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Cheatham County approves $925,218 capital outlay note to buy seven school buses
Summary
The Cheatham County Legislative Body authorized capital outlay notes up to $925,218 to buy seven school buses, approving a three‑year financing plan that must still receive Comptroller approval. The Board of Education also recorded a 5–0 vote in favor; the county approved a related budget amendment.
Cheatham County commissioners on March 21 approved authorizing capital outlay notes not to exceed $925,218 to finance seven school buses, a measure they said is intended to refresh the county’s school transportation fleet.
The motion to authorize the notes was moved by Commissioner Ed Greer and seconded by Commissioner Diana Pike Lovell and passed by roll call vote 11–0 (one commissioner absent). The Board of Education’s vote on the request was recorded as 5–0 in the meeting record.
Under the resolution adopted by the legislative body, the notes may bear interest at rates up to 3.25% and are expected to mature within three fiscal years. The resolution directs county officials to pursue sale of the notes subject to written approval by the Tennessee Comptroller of the Treasury or the Comptroller’s designee, a required step before issuance.
County staff also adopted a budget amendment moving the authorized proceeds into the Education Capital Projects fund so purchases can proceed if and when the Comptroller signs off. The resolution includes standard provisions describing amortization options and authorizes the county chief executive officer to finalize sale terms with a purchaser.
The measure was presented under the budget committee recommendations; no public comment opposing the financing was recorded during the meeting. The next procedural step is submission of the adopted resolution and budget paperwork to the Tennessee Comptroller for the required approval before the note sale and equipment purchase can proceed.
