JCSD1 Board Awards Bid For School Bus Lease

JCSD1 Board Awards Bid For School Bus Lease

At their Monday meeting the Board of Trustees for Johnson County School District One awarded the bid to lease a school bus to Wells/Fargo Bank.

District Business Manager Mat Ramey explained that the state has the individual districts on a rotating bus replacement schedule and they re-imburse the districts for transportation-related expenses including new buses. The districts aren't allowed to purchase a bus outright, but to pay for it through a lease-to-purchase plan over a number of years.
Each year, those payments are reimbursed to the district by the state.

Ramey gives more details on the bid process.

The annual percentage rates were 2.27% for Wells/Fargo and 2.74% for First Interstate. Annual payments would have been $22,635 for Wells/Fargo and $22,996 for First Interstate.

Ramey recommended Wells/Fargo for the lease agreement, which was approved by the board.

First Northern Bank
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