FINANCIAL_SERVICESAPPROVED

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

HCESC Engaged for School Bus Lease-Purchase Advisory

0.5% of financial transaction amount for bus financing, not less than $1,500 and not more than $9,500, on approximately $698,000 financingMount Olive Township School DistrictHUNTERDON COUNTY EDUCATIONAL SERVICES COMMISSION LEASE PURCHASE BIDING ADVISORY SERVICEMay 11, 2026

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Description

The board approved an agreement with the Hunterdon County Educational Services Commission’s Lease Purchase Biding Advisory Service to manage bidding and closing support for about $698,000 in school bus lease-purchase financing, with fees set at 0.5% of the transaction amount. The arrangement includes specification development, bid analysis, and closing assistance.

Contract Details

Contract Amount

0.5% of financial transaction amount for bus financing, not less than $1,500 and not more than $9,500, on approximately $698,000 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

Engagement is tied to a single lease-purchase financing transaction for four school buses; any future financings would require separate authorizations and fee arrangements.

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