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FINANCIAL_SERVICESAPPROVED

Mount Laurel Township School District Agenda Regular Board of Education Meeting 2026-05-19

Santander Bank to finance four new school buses

$343,380.00 for two 54-passenger buses and $258,332.00 for two 24-passenger buses over five yearsMount Laurel Township School DistrictSANTANDER BANKMay 19, 2026

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WithersRavenel logo
Derivita logo
Comcate logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
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Description

The Board approved a five-year municipal lease-purchase agreement with Santander Bank to finance four school buses totaling $601,712 under an ESCNJ cooperative bid. Both the 54-passenger and 24-passenger bus leases allow early buyout without penalty.

Contract Details

Contract Amount

$343,380.00 for two 54-passenger buses and $258,332.00 for two 24-passenger buses over five years

Vendor

SANTANDER BANK

Agency

Mount Laurel Township School District, NJ

Contract Type

FINANCIAL_SERVICES

Document Date

May 19, 2026

Contract Term

5-year municipal lease-purchase

Renewal Info

Fixed 5-year lease-purchase terms with option for early buyout; no automatic renewal indicated.

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