Common use of Bus Acquisition Clause in Contracts

Bus Acquisition. All school buses now owned are the property of the Transportation Cooperative; and all school buses acquired in the future shall be purchased by the Transportation Cooperative. State depreciation reimbursement revenue generated by participating districts after August 31st, 1981, shall become the revenue of the Transportation Cooperative.

Bus Acquisition. Effective September 1st, 1981, all presently owned school buses of the participating districts become All school buses now owned are the property of the Transportation Cooperative; and all school buses acquired in the future shall be purchased by the Transportation Cooperative; provided any existing contract payment due after August 31st, 1981 shall be the Transportation Cooperative liability. State depreciation reimbursement revenue generated by participating districts after August 31st, 1981, shall become the revenue of the Transportation Cooperative.