SAYREVILLE – The Sayreville School District Board of Education has approved the $1.65 million lease purchase of 17 school buses and technology equipment for the 2020-21 school year.
On Aug. 25, board members passed a resolution awarding a contract to US Bancorp Government Leasing & Finance, Inc. for the lease purchase of the school buses and technology equipment. The resolution also authorizes US Bancorp Government Leasing & Finance, Inc. to forward the financing proceeds directly to the board upon closing.
“We got a great [interest] rate of 1.18%,” Business Administrator Erin Hill said prior to the board’s vote. “So, over the course of five years, we’re only going to pay about $50,000 dollars of interest on $1.65 million of buses, which is fantastic.”
After awarding the contract, board members approved the purchase of 17 buses at the total cost of $1.65 million, utilizing the funds from the lease purchase.
According to district administrators, the buses purchased with the $1.65 million are one 2020 IC 54 passenger bus that costs $90,738, five 2021 IC 54 passenger buses that cost $94,997 each, two 2020 IC 54 passenger buses that cost $95,366 each, and nine 2021 IC 54 passenger buses that cost $99,162 each.
In other business, the board passed a resolution to pay $10,230 to Spiezle Architectural Group, Inc., the board’s architect. The payment will be for professional services for construction administration and bidding of the HVAC (heating, ventilation, air conditioning) at the gymnasium of the Sayreville War Memorial High School (SWMHS).
Following the approval of the payment, the board approved a withdrawal from the district’s capital reserve in the amount of $10,230 to be used for the HVAC at the SWMHS’ gymnasium.
Board members also passed a resolution approving a contract with APEX Learning Inc. to provide online courses for students at SWMHS during the 2020-21 school year. The cost of the contract is not to exceed $20,400.
Finally, board members approved the purchase of equipment and services for communication operations from Mutuallink in the amount of $62,505.25.