First, you are going to do a 'lease-purchase' deal for $459,019. Then, you are going to repay the 'lease-purchase' over five years at $43,163 each year, and then a so-fun "balloon" payment of $335,000.
I am not a financial wizard like our county employees. I have read about "balloon payments" alot recently, though. I have heard they may be responsible in part for the global economic collapse, but hey, what do I know.
Ok, so let's continue.. wait, $43,163 x 5 comes up to $215,815. Plus the $335,000 equals $550,815. Again, hang on, somehow $459,019 is now $550,815. How did that happen? Now we are paying an extra $91,796.
As I say, I am no financial, or even math, wiz, so please read the memo yourself and if I am wrong comment here to correct. No worries.
Ha ha fooled you again! Of COURSE we have money for teachers and textbooks. We just don't want to spend them on YOUR children. The Board of Education has better places to spend our money, I mean THEIR money.
I calculate 269,800 pounds of the stuff for one football field measuring 57,000 square feet!! How lucky is that. This company sells it for 17 cents per pound, but you get it for only $1.2MILLION (that comes out to $4.45 per pound, so maybe financial wizards, not so much. oh well).
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