To allow the district to save for future bus purchases, voters will decide on a proposition to create a bus purchase reserve fund.
If approved, the district could set aside up to a maximum of $15,000,000 (plus interest earnings) over 15 years to pay for buses and related equipment and expenses. This reserve fund would allow the district to save money incrementally to help meet the state’s mandate for a fully electrified bus fleet by 2035.
Savings for future capital needs can reduce or eliminate interest and other costs associated with debt issuances.