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Board accepts disclosed change of ownership for Presidential Transportation, authorizes contract extensions with Jay's and Presidential
Summary
The Lakewood Board accepted disclosures that Jay's Bus Service owners acquired Presidential Transportation effective June 1, 2024, authorized updated ownership disclosures and approved annual extensions of certain high‑school routes at prior contract amounts increased by the CPI, subject to county approval.
The Lakewood Board of Education on Aug. 7 accepted a disclosed change of ownership affecting local pupil‑transportation providers and authorized administrative follow up. Board materials show that Joseph D. Ellison, Joshua Silber and Isaac Stern—owners of Jay's Bus Service—acquired the membership interests in Presidential Transportation effective June 1, 2024. The board resolved to accept that disclosure and to authorize the Business Administrator and other authorized staff to request updated ownership‑disclosure statements from Presidential’s new owners.
The resolution states the district will treat Jay's Bus Service and Presidential Transportation as separate entities going forward despite shared ownership, and that the district’s contractual rights and terms remain unchanged. The board authorized, subject to Executive County Superintendent approval, annual extensions of existing contracts for Lakewood High School routes with Jay's Bus Service and Presidential Transportation at their 2023–24 contract amounts increased by the Consumer Price Index (CPI).
The resolution further addresses bid security: it specifies that Presidential Transportation shall forfeit its bid bond under N.J.S.A. 18A:39‑4 for failure to execute a contract unless the company pays the district $50,000 with a certified check in lieu of bond forfeiture. The board authorized the Board President and Business Administrator or their designees to sign contracts related to these annual extensions.
The transportation disclosures and resolution were included in the business agenda packet; the motion to approve the business agenda (which included this resolution) carried, with the recorded ayes from the members present and four members noted as not present for the vote. The minutes reflect administration counsel and legal references to N.J.S.A. 18A:39‑3 and N.J.A.C. 6A:27‑9.13 within the drafted resolution.
