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Board reviews and authorizes HVAC lease payoff of $837,195.90
Summary
Board members discussed and moved to approve an early payoff of the district's HVAC lease from Union State Bank in the amount of $837,195.90; the amount and motion were recorded in meeting materials and in oral remarks.
The Clay County Board of Education discussed and authorized an early payoff of the district's HVAC lease with Union State Bank. "An approved payoff from Union State Bank, HVAC lease early, and authorize the payment amount of $837,195.90," a trustee (Speaker 11) stated while presenting the item.
Staff said the bank provided a payoff figure that remains valid through July 15; the board discussed payment logistics and directed staff to proceed with the approved payoff.
Why it matters: Paying off the HVAC lease will remove an outstanding debt obligation and can affect the district's short-term capital balances and cash flow. The amount — $837,195.90 — is a material outlay and was specifically cited in the meeting.
What's next: District business office staff will coordinate with the bank on payoff paperwork and record the transaction in the district's accounts.
