School District 56 intends to spend about $2 Million on Lenovo computers which are “necessary for the proper functioning of the School District” without applying the expense toward its overall debt.
Presented in resolution form to the Board of Trustees Monday night, the purchase is for 880 of one Lenovo model and 1,800 of another Lenovo model, and batteries, for an expected cost of $1,894,428, which includes $140,328 in sales tax at 8%.
Also at its regular monthly meeting, the Board received the 2025-26 calendar, in which the first day for students will be Aug. 5, and the 2026-27 calendar, in which the first day will be Aug. 4; and authorized retirement resolutions for: Georgia Fowler, Kathy Lapomarda, Penny May, Nancy Shealy, Sandy Simmons, Tammy Stewart, Mary Waldron, Mike Whitmire, and Almira Young (the retirement dinner, by invitation, will be May 13).
The equipment acquisition resolution says it is an Acquisition, Use & Security Agreement, and is not a financing agreement and the equipment is not considered a district “asset”. It is not a bond, which would apply to the District’s debt limit. Bonded debt cannot exceed 8% of the assessed value of total property in a governing body’s jurisdiction without a referendum.
It allows for the financing and periodical purchase of equipment. Lenovo sells and markets PCs and laptops, accessories and software, servers and storage, and solutions and services, according to its website.
Financing can be done with a bank or other financial institution selected by the Superintendent.
The Superintendent and/or the Finance Director can negotiate the interest rate and other terms of the agreement, according to the resolution.
The agreement cost can be paid from general fund revenues, proceeds of a bond, or other approved revenue sources. The board will appropriate the payment each year.
It is a not-to-exceed $2M cost.
Burr & Forman LLP is the district’s special counsel, and Compass Municipal Advisors LLC is the district’s financial advisor.
The agreement-resolution was 1 of 8 action items on the board’s April 28 agenda.
The next Board of Trustees meeting will be May 19; then comes a whirlwind of end-of-the-year activities to include Clinton High senior breakfast, walk-through elementary schools, and academic awards, May 28; Senior Night May 29; and CHS Commencement, 10 a.m., May 30. Individual schools also will schedule their year-ending activities. After that, the Board of Trustees’ next meeting will be June 23.
