Independent School District No. 94 Lease Purchase Agreement 2026-07-01
ISD 94 leases MacBook fleet from Apple Inc.
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Description
Independent School District No. 94 approved a tax‑exempt lease purchase agreement with Apple Inc. to finance 200 MacBook Neo laptops and associated AppleCare+ coverage for a principal cost of $130,600 over four years. The agreement, effective July 1, 2026, includes a Minnesota-specific amendment, a detailed payment schedule, and an optional end‑of‑term resale arrangement.
Contract Details
Contract Amount
$136,426.96 (principal $130,600.00 at 2.99% interest; discounted issue price $127,337.04)
Vendor
APPLE INC
Agency
Cloquet Public School District, MN
Contract Type
TECHNOLOGY
Document Date
June 5, 2026
Contract Term
July 1, 2026 – July 1, 2029 (4 annual payments; Commencement Date July 1, 2026)
Renewal Date
2029-07-01
Renewal Info
Lease Purchase Agreement with Schedule No. 2 is structured as a fixed four‑year term with annual payments due each July 1 through 2029, with an option for the Lessee to prepay on scheduled payment dates at the stated purchase prices and an optional end‑of‑term resale of the equipment back to Lessor or its designee for $20,000 if returned in good working order; no automatic renewal is provided, but non‑appropriation provisions allow early termination.
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