FINANCIAL_SERVICESAPPROVED

Mount Olive Township School District Agenda Regular Meeting 2026-05-11

HCESC to Advise on $1.6M Tech and Equipment Financing

0.5% of financial transaction amount for technology/equipment financing, not less than $1,500 and not more than $9,500, on approximately $1,600,000 financingMount Olive Township School DistrictHUNTERDON COUNTY EDUCATIONAL SERVICES COMMISSION LEASE PURCHASE BIDING ADVISORY SERVICEMay 11, 2026

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Description

The board approved engaging the Hunterdon County Educational Services Commission’s Lease Purchase Biding Advisory Service to handle bidding and advisory work for roughly $1.6 million in lease-purchase financing for technology, equipment, and maintenance vehicles. HCESC will be compensated at 0.5% of the financed amount, subject to minimum and maximum fee thresholds.

Contract Details

Contract Amount

0.5% of financial transaction amount for technology/equipment financing, not less than $1,500 and not more than $9,500, on approximately $1,600,000 financing

Vendor

HUNTERDON COUNTY EDUCATIONAL SERVICES COMMISSION LEASE PURCHASE BIDING ADVISORY SERVICE

Agency

Mount Olive Township School District, NJ

Contract Type

FINANCIAL_SERVICES

Document Date

May 11, 2026

Renewal Info

Advisory engagement is specific to the upcoming $1.6 million lease-purchase financing; subsequent financings would need new board-approved agreements.

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