grand-forks-public-school-district-1-special-meeting-minutes_26d.pdf

Horizon Financial Bank has been approved for a governmental lease for a bus. The lease is for a single-year term with an auto-renewal clause for two additional annual terms. At the end of the third year, the school district will have the option to purchase the bus. The sale price is $132,500 with three annual lease terms of $24,747.27 per year and a pre-negotiated sale price at the end of the third year of $72,875.