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Board authorizes using Fund 33 (Bond 22) balance as down payment for solar project financing
Summary
Cache Public Schools authorized financing terms for a solar project and approved allowing Chad Hance to use the balance of Fund 33 (Bond 22) as the down payment for a lease-purchase agreement with Government Capitol; motion passed 4-0.
The Cache Public Schools board discussed finance options for a lease-purchase agreement with Government Capitol to fund a district solar project and authorized using the balance of Fund 33 (Bond 22) as a down payment. The motion passed 4-0 on Jan. 12.
Minutes record the authorization but do not include the final finance package, interest rate, payment schedule or total project cost. The board recorded that Chad Hance was authorized to use the fund balance for the down payment; the motion did not contain further contingency language in the recorded minutes.
