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Board approves installment purchase to buy district buses, cites $20,000 savings
Summary
The Mason Consolidated Schools Board adopted a resolution to finance the purchase of district buses through an installment purchase, with staff saying buying the buses would save the district $20,000 compared with continuing the lease.
President Otting opened the June 30 special meeting and the board moved quickly to consider a recommendation on district transportation. Accounting Assistant Nicci Wright told the board that the district’s bus lease term ends July 15 and recommended buying the buses outright. "This is a $20,000 savings over the current lease payments," Wright said.
Board member Grodi moved to adopt a resolution to finance the acquisition of property (buses) through an installment purchase; Fowler supported the motion. A roll call vote recorded England, Fortner, Fowler, Grodi and Otting as voting yes, with Nehrig and Waller absent. The resolution was adopted, 5-0.
The board did not specify in the meeting minutes the lender, repayment term or which vendor’s buses would be purchased. The minutes record only Wright’s recommendation, the motion to adopt financing through an installment purchase, and the 5-0 vote in favor. The board’s action replaces the option of renewing the existing lease and directs staff to proceed under the adopted financing resolution.
