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Panama board adopts bond resolution to finance school buses up to $248,458
Summary
The board adopted a bond resolution authorizing purchase and financing of school buses at an estimated maximum cost not to exceed $248,458 and delegated issuance authority to the board president; the resolution was approved 6–0.
The board approved a bond resolution dated June 15, 2026, authorizing purchase of school buses, equipment and related apparatus at an estimated maximum cost not to exceed $248,458 and authorizing issuance of serial bonds in an aggregate principal amount up to that figure. The resolution specifies financing under the Local Finance Law and delegates sale and issuance powers, including issuance of bond anticipation notes, to the board president as chief fiscal officer.
The resolution states the estimated period of probable usefulness is five years and pledges the faith and credit of the district for repayment, subject to statutory limits. The board approved the resolution 6–0; the minutes reference docket material and legal sections included in the resolution.
