Eddyville-Blakesburg School District had a much-needed upgrade for their football field lighting budgeted 3 years in the future. Due to safety concerns over the deteriorating light levels on the field, administration decided to make the upgrade in the current year. "While the replacement lights were budgeted, it was apparent that we needed to accelerate the schedule," said Eddyville-Blakesburg Superintendent Dr. Dean Cook.
Bob Drost, manager of business development for Musco Finance, worked with Dr. Cook to develop a lease-purchase option that allowed the district to spread payments over 10 years.
"The solution we provided allowed the district to not only light the football field, but it also meant they could light their softball and baseball fields at the same time while staying within their budget," said Drost. "Our financing also enabled the school to purchase a new scoreboard and sound system at the football stadium and provide 50 footcandles of light on the field instead of the 30 footcandles originally planned for the project." In addition to reducing the timetable for lighting, the financing plan saves money by locking in pricing to protect from inflation.
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