1. The board of education of any school district is hereby authorized and empowered to rent or lease for such consideration as may be determined by such board, a motor vehicle or vehicles owned by the respective school district during any time when such vehicle or vehicles are not needed for the transportation of such children, which are otherwise used for the transportation of the school children of such district to:

1. (a) any senior citizens center or organization that is recognized and funded by the office for the aging;
2. (b) any non-profit incorporated organization serving senior citizens;
3. (c) any non-profit incorporated organization serving the physically or mentally handicapped;
4. (d) any not-for-profit organization that provides recreation, youth services, or the operation of playgrounds or neighborhood recreation centers;
5. (e) any municipal corporation, as defined in the general construction law;
6. (f) any not-for-profit organization providing transportation services in rural counties as defined in section seventy-three-c of the transportation law for children participating in the agricultural child care program authorized by the agriculture and markets law; and
7. (g) an operator of a coordinated public transportation service, as defined by section seventy-three-c of the transportation law, for the purpose of providing a portion of a coordinated public transportation service plan as authorized by article two-F of the transportation law.
8. (h) any not-for-profit organization, community based organization, or educational or employment and training agency which provides education or employment and training services for youths and adults in a rural county, as defined by section seventy-three-c of the transportation law.
9. (i) any fire company as defined in subdivision two of section three of the volunteer firefighters' benefit law, or an ambulance company as defined in subdivision two of section three of the volunteer ambulance workers' benefit law.

4. In any case where such motor vehicle is leased pursuant to subdivision one of this section or where any services are contracted for pursuant to subdivision two or three of this section, the consideration to be received for such lease or contract shall not be less than the full amount of the costs and expenses resulting from such lease or contract.

1. (a) For the purposes of this section, the full amount of the costs and expenses resulting from any lease of any vehicle pursuant to subdivision one of this section shall include but not be limited to the costs of operation, maintenance and repair of such vehicle, the current fair market value of the purchase price of the vehicle annualized for the vehicle's remaining useful life, the cost of public liability and property damage insurance, fire insurance and compensation insurance of drivers and the cost of collision insurance in the amount of the value of the vehicle to protect the lessor.
2. (b) For the purposes of this section, the full amount of the costs and expenses resulting from any contract for services pursuant to subdivision two or three of this section shall include but not be limited to that portion of the costs of any employees, equipment or facilities which can be attributed to the provision of such services.