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Board OKs SEQRA finding and bond authorization for $130,000 in student buses
Summary
The Oxford Academy and Central School District board determined the purchase of student transportation vehicles is a Type II SEQRA action and authorized issuing up to $130,000 in serial bonds to finance the vehicles; the board delegated bond-sale details to the board president and recorded no opposition (Yes-4, No-0).
The Oxford Academy and Central School District Board of Education on June 3 approved a SEQRA determination that the planned purchase of student transportation vehicles is a Type II action and authorized issuance of up to $130,000 in serial bonds to pay for the vehicles.
The resolution notes a maximum estimated cost of $130,000 and delegates to the board president, as the district's chief fiscal officer, authority to set sale details and issue bond anticipation notes if needed. The resolution also states the district intends to initially use General Fund monies and then reimburse those expenditures with bond proceeds.
Board members voted unanimously to adopt the bond resolution. The resolution includes a declaration of the district's official intent to reimburse expenditures with bond proceeds and a pledge of the district's faith and credit for repayment.
Next steps: the president of the Board of Education will finalize bond-sale details and the district will publish the required legal notice. No public comment was recorded opposing the financing.
