Tioga Central approves up to $380,000 in bonds to buy two school buses

The Tioga Central School District Board of Education on Aug. 20 approved a bond resolution authorizing the issuance of bonds not exceeding $380,000 to finance the purchase of two school buses. The Financial Consent Agenda, which included the bond resolution, passed by a 7-0 vote.

The resolution states the buses and associated original equipment and incidental expenses are authorized at a maximum estimated cost of $380,000 and that the district’s faith and credit are pledged for payment. It delegates authority to issue bonds and bond anticipation notes, determine details such as maturities and interest dates, and sell or renew notes to the Board President as the district’s chief fiscal officer. The resolution also directs publication of the resolution summary in the district’s official newspaper as required by state law.