Independent School District No. 94 Lease Purchase Agreement 2026-07-01
District 94 leases MacBooks from Apple via $120K agreement
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Description
Independent School District No. 94 approved a lease purchase agreement with Apple Inc. to finance 200 MacBook Neo laptops and AppleCare+ coverage for a principal amount of $120,600, with total payments of $124,170.01 over three years. The July 1, 2026 agreement structures the acquisition as a tax-exempt lease with non-appropriation and Minnesota-specific title provisions.
Contract Details
Contract Amount
$120,600.00 (principal); total payments $124,170.01 at 2.99%
Vendor
APPLE INC
Agency
Cloquet Public School District, MN
Contract Type
TECHNOLOGY
Document Date
June 5, 2026
Contract Term
July 1, 2026 – July 1, 2028 (3 scheduled annual payments)
Renewal Date
2028-07-01
Renewal Info
Single 3-year lease purchase term with no automatic renewals; Lessee may prepay by paying the scheduled purchase price and may exercise an end-of-term resale option to sell the equipment back. Non-appropriation allows early termination at fiscal year-end.
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