To calculate the replacement system payment for a district-owned school bus, the superintendent shall:
(1) Assign the school bus to the appropriate category;
(2) Divide the current year system price by the system lifetime;
(3) Multiply by the total number of past and current year eligible months;
(4) Subtract the total amount of all school bus replacement payments made in prior school years (if any);
(5) Subtract the assumed interest earnings (if any); and
(6) Subtract the salvage value if the current school year is the final year of the school bus's system life.
[Statutory Authority: RCW
28A.150.290. WSR 15-11-076, § 392-142-240, filed 5/19/15, effective 6/19/15; WSR 12-19-098, § 392-142-240, filed 9/19/12, effective 10/20/12; WSR 05-19-072, § 392-142-240, filed 9/16/05, effective 10/17/05; WSR 03-13-049, § 392-142-240, filed 6/12/03, effective 7/13/03. Statutory Authority: 1995 1st sp.s. c 10, RCW
28A.150.290 and chapter
28A.160 RCW as amended in ESSB 5408, section 1(6). WSR 95-17-011, § 392-142-240, filed 8/4/95, effective 9/4/95. Statutory Authority: RCW
28A.150.290 and 28A.160-130-200. WSR 93-13-083 (Order 93-10), § 392-142-240, filed 6/18/93, effective 7/19/93. Statutory Authority: RCW
28A.41.170 and
28A.41.540. WSR 90-02-077 (Order 21), § 392-142-240, filed 1/2/90, effective 2/2/90.]