FACILITIESAPPROVED

Walnut Township Local School District Board of Education Meeting Minutes March 2026

Board Authorizes Lease-Purchase for Roof and Facility Repairs

Principal component of rent not to exceed $2,100,000; initial appropriations up to $310,000 for rent through June 30, 2027Walnut Township Local SchoolsLESSORMarch 9, 2026

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Description

The Board approved a lease-purchase financing structure with an as-yet-undesignated lessor to fund up to $2.1 million in school facility improvements, including roof replacement and repairs at Millersport schools. The agreement includes initial and renewal lease terms through at least June 30, 2027, with total term capped at 30 years.

Contract Details

Contract Amount

Principal component of rent not to exceed $2,100,000; initial appropriations up to $310,000 for rent through June 30, 2027

Vendor

LESSOR

Agency

Walnut Township Local Schools, OH

Contract Type

FACILITIES

Document Date

March 9, 2026

Contract Term

Initial term ending June 30, 2026, with first renewal term ending June 30, 2027; total term may not exceed useful life of project and in no event more than 30 years

Renewal Date

2027-06-30

Renewal Info

Lease-purchase will be structured with an initial term and annual renewal terms up to the useful life of the project but not exceeding 30 years; agreement terminates if the Board fails to appropriate funds for any renewal term.