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Board to ask voters to approve purchase of four school buses, up to $650,006
Summary
The board unanimously approved placing Proposition #2 on the May 20 ballot, authorizing acquisition of four buses at a maximum cost of $650,006, with authorization to issue debt under Section 416 of the Education Law if needed.
The Ichabod Crane Board on April 22 voted 6-0 to present a bus purchase proposition to district voters that would authorize the acquisition of four school buses at a cost not to exceed $650,006 and permit the district to issue debt instruments under applicable provisions of Education Law.
The motion, recorded as Proposition #2, states the district may "(1) acquire four (4) school buses, at a cost not to exceed $650,006 ... and (4) in anticipation of the collection of such tax, issue bonds, notes and/or installment purchase contracts of the District ... in the principal amount not to exceed $650,006." The minutes explicitly reference Section 416 of the Education Law in describing repayment and installment financing authority.
Board action carried unanimously. The district will include the bus proposition on the same May 20 ballot as the operating budget.
