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5 <br />Board of Education <br />Agenda Abstract <br />Meeting Date: February 14, 2012 <br />Agenda Type: Board Action <br />Agenda Item #: b <br />Subject: Recommendation to Approve the Purchase of Network Equipment using a Master Tax - <br />Exempt Lease/Purchase <br />Division: <br />IT <br />Department: <br />Technology <br />Person <br />Ray Reitz <br />Feedback <br />Board Attorney <br />Responsible: <br />Requested <br />From: <br />Public Hearing Required: <br />Previous Work Session <br />Previous Discussion and Action <br />Attachment(s): <br />No <br />Yes Date November 17, 2011 <br />No Date <br />1. Master Tax - Exempt Lease /Purchase Agreement dated September 6, 2006 <br />2. Property Schedule No. 02 <br />3. Exhibit 1: Property Description and Payment Schedule <br />4. Exhibit A: Property Description <br />PURPOSE: On November 17, 2011 the Board approved a resolution to move forward with a <br />Lease/Purchase Agreement for data infrastructure upgrades. The purpose of this request is to <br />approve the Lease/Purchase Agreement for submission to the County for final approval. <br />Following the November 17, 2012 meeting, the district solicited quotes from three financial <br />institutions and selected the proposal with the lowest finance charge. Key Government Finance, <br />Inc responded with the most competitive financing change which is at an equivalent of 1 %. Key <br />Government Finance, Inc. was also used for financing the previous network upgrade in 2006. <br />The lease documentation has been reviewed by legal counsel at Tharrington Smith, L.L.P. To <br />streamline the process, they have recommended that we use the existing Master Tax - Exempt <br />Lease/Purchase Agreement between Key Government Finance, Inc. and the Board dated <br />