The Shelby County Board of Education approved an ordinance Monday night allowing Collierville to negotiate a 40-year lease for the eight school buildings within the town.
The Bailey Station, Collierville Elementary, Collierville High, Collierville Middle, Crosswind Elementary, Schilling Farms Middle, Sycamore Elementary and Tara Oaks Elementary School buildings will be leased for 40 years contingent upon the agreement of the Collierville School Board to pay the Shelby County Board of Education a negotiated sum which will assist in offsetting the health and life insurance costs associated with already retired employees of the SCBE and “other costs associated with the formation of municipal school districts.”
The lease will require that the Collierville Board of Education be responsible for the cost of all maintenance and repair of the properties. The lease will also provide that the Collierville Board of Education will indemnify the Shelby County Board of Education for all lawsuits and claims of any kind arising from or pertaining to the lease of school buildings.
