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Le Roy board adopts bond resolution to help finance six buses
Summary
The board adopted a bond resolution authorizing up to $500,000 in serial bonds to finance part of a $1.1 million purchase of six 66-passenger buses with interior surveillance and two-way radios; $600,000 will come from the district's capital reserve.
The Le Roy Central School District Board of Education on March 23 adopted a bond resolution authorizing up to $500,000 in serial bonds (or bond anticipation notes) to finance part of a $1,100,000 project to purchase six 66-passenger school buses equipped with interior surveillance equipment and a two-way radio package. The proposition enabling the purchase was approved by district voters on March 17, 2026; the resolution calls for $600,000 from the district's 2019 Capital Reserve Fund and bond financing for the balance, with bonds payable as general obligations of the district.
The resolution states a five-year period of probable usefulness for the buses and delegates authority to the Board President to execute financing documents, including actions to preserve tax-exempt status of interest and to enter continuing disclosure obligations required by SEC Rule 15c2-12. The roll-call vote recorded five ayes, zero nays and two absences.
