Board authorizes $264,110 in 2024b bond proceeds for maintenance vehicles and IT
June 26, 2026 | Lexington 01, School Districts, South Carolina
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The Lexington School District One board voted June 25 to amend its Aug. 20, 2024 bond resolution to authorize use of series 2024b bond proceeds to pay $264,110 in fiscal year 2026 qualified expenditures, specifically covering maintenance vehicles and IT equipment.
Speaker 3 moved the amendment and speaker 4 seconded. Miss Miller explained the group had reviewed which expenditures qualify to be moved from the general fund to bond funds and recommended those qualifying amounts be shifted. "We have done a diligent job ... looking at expenditures that do qualify to be moved over to the bond funds," Miller said, recommending the transfer of qualifying items out of the general fund into bond funding.
Doctor Price added that staff were identifying the oldest available bond funds first and that moving eligible items to bond funds preserves operating-budget dollars. "What we're trying to do here is to identify our oldest bond funds available and try to use our oldest funds available to us first," he said.
The chair called for a voice vote and the motion carried.
The board's action allows the district to charge $264,110 of specified FY26 maintenance-vehicle and IT purchases to series 2024b bond proceeds, subject to standard bond-accounting and qualification rules. Staff will proceed with the accounting adjustments necessary to reflect this funding change.
Speaker 3 moved the amendment and speaker 4 seconded. Miss Miller explained the group had reviewed which expenditures qualify to be moved from the general fund to bond funds and recommended those qualifying amounts be shifted. "We have done a diligent job ... looking at expenditures that do qualify to be moved over to the bond funds," Miller said, recommending the transfer of qualifying items out of the general fund into bond funding.
Doctor Price added that staff were identifying the oldest available bond funds first and that moving eligible items to bond funds preserves operating-budget dollars. "What we're trying to do here is to identify our oldest bond funds available and try to use our oldest funds available to us first," he said.
The chair called for a voice vote and the motion carried.
The board's action allows the district to charge $264,110 of specified FY26 maintenance-vehicle and IT purchases to series 2024b bond proceeds, subject to standard bond-accounting and qualification rules. Staff will proceed with the accounting adjustments necessary to reflect this funding change.
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