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Board approves bond authorization to finance two school buses up to $280,000
Summary
The Cherry Valley-Springfield school board voted to authorize serial bonds of up to $280,000 to acquire one 65-passenger and one 30-passenger school bus. The roll-call vote on the resolution was recorded as four yeas, one absent.
The Board of Education voted June 18 to adopt a bond resolution authorizing the acquisition of one 65-passenger school bus and one 30-passenger school bus and to issue serial bonds in an amount not to exceed $280,000.
Superintendent TheriJo Snyder announced the district ballot result earlier in the meeting, saying the purchase of two school buses was approved by voters: "Purchase Two School Buses = Yes - 152, No - 47." The formal bond resolution passed by board action and includes delegation of authority to the board president to issue bond anticipation notes and take steps to preserve federal tax-exempt status for the bonds.
The board recorded a roll-call vote on the resolution: April Aramini — Yes; Megan Bosc — Yes; Erin Seeley — Yes; Amy Garretson — Yes; Ellen Johnson — Absent. The resolution describes the maximum cost as not to exceed $280,000 and states the district expects to initially fund the purchases from the general fund and reimburse with bond proceeds.
The vote concludes the formal authorization process; the resolution also includes SEQR and continuing disclosure language required for municipal bond issuance. The board did not specify a timeline for delivery, but district staff earlier noted concerns that new buses might be delivered a year behind schedule.
