FINANCIAL_SERVICESAPPROVED

Kaneland CUSD #302 Chromebook Lease Agreement January 2026

Chromebook Lease-to-Own Agreement Approved for $831,498

Up to $831,498 (principal lease cost of $721,497.70 plus allowance for device cost increase)Kaneland CUSD 302AMERICAN CAPITAL FINANCIAL SERVICES INCJanuary 15, 2026

Trusted by teams at

Description

Kaneland Community Unit School District #302 approved a four-year, tax-exempt master lease-to-own agreement with American Capital Financial Services, Inc. for up to $831,498 to finance 2,100 Chromebook devices and Google Education upgrades. Annual payments of $194,950 at 3.94% interest begin July 15, 2026; title will transfer to the District after the final payment.

Contract Details

Contract Amount

Up to $831,498 (principal lease cost of $721,497.70 plus allowance for device cost increase)

Vendor

AMERICAN CAPITAL FINANCIAL SERVICES INC

Agency

Kaneland CUSD 302, IL

Contract Type

FINANCIAL_SERVICES

Document Date

January 15, 2026

Contract Term

January 15, 2026 – July 15, 2029 (four annual payments beginning July 15, 2026, ending July 15, 2029)

Renewal Date

2029-07-15

Renewal Info

The agreement is a fixed four-year term with annual renewal through appropriation. Contains standard non-appropriation clause; lease may be paid off or purchased early per agreement terms. No automatic renewals; District can exercise purchase option for $1 at term end.

More from AMERICAN CAPITAL FINANCIAL SERVICES INC