TRANSPORTATIONRECOMMENDED

Morton CUSD 709 Recommends Bus Lease with Better Banks

Morton CUSD 709 administration recommends entering a 5-year lease with Better Banks at $153,079.96 per year to finance two large and three small Thomas school buses. The lease carries a 3.89% interest rate, with the district owning the buses at the end of the term and total interest estimated at $55,329.80.

Status
RECOMMENDED
Document date
May 5, 2026
Contract type
TRANSPORTATION
Vendor
Better Banks
Agency
Morton CUSD 709 · IL

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$153,079.96 annually (estimated $55,329.80 total interest over 5 years)
Contract type
TRANSPORTATION
Contract term
5-year lease
Renewal
Single 5-year lease-purchase term; district will own buses at the end of the lease. No renewal options mentioned.
Document type
StaffReport
Source document
Morton Community Unit School District 709 Action Item May 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the transportation contract by Morton CUSD 709?

Better Banks was awarded this transportation contract by Morton CUSD 709, as recorded on May 5, 2026. The contract value is $153,079.96 annually (estimated $55,329.80 total interest over 5 years).

How much is the Better Banks contract with Morton CUSD 709 worth?

The Better Banks contract with Morton CUSD 709 is valued at $153,079.96 annually (estimated $55,329.80 total interest over 5 years), covering transportation work.

What type of contract is this?

This is a Transportation contract, documented as a staffreport record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Morton Community Unit School District 709 Action Item May 2026 (StaffReport), dated May 5, 2026 from Morton CUSD 709. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Better Banks hold?

Better Banks may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Morton CUSD 709 currently buying?

Explore Morton CUSD 709's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Morton CUSD 709's profile

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