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Board probes $40M bus lease option as a way to refresh aging fleet
Summary
A proposed $40M master equipment lease would allow staged replacement of buses; board members debated whether a lease would extend refresh cycles to 10 years and add security and technology costs that increase all‑in payments.
District advisers presented a master equipment lease proposal (up to $40,000,000) intended to replace buses over multiple schedules; the initial schedule would be $4,800,000 with suggested 10‑year amortization. Laura Howell said the initial $4.8M tranche carries an estimated annual payment of $612,000.
Board members warned that leasing over 10 years could extend the fleet replacement cycle and that auxiliary costs (security cameras, software) might add roughly $1M or more to the program. Mr. Rios Welsh and board members agreed to obtain a detailed year‑by‑year bus replacement schedule and a full “all‑in” annual cost (including pre‑installation security and technology) for a follow‑up workshop within two weeks.
