I see a lot of people seemingly missing the bigger issues.
1. Savings over time with a new HVAC system
The HVAC system in place has obviously been in use for 30+ years. In that time a lot of efficiency in these systems has occurred. In 5 years the school district will probably recouped a significant portion of that in energy savings.
2. Just replacing parts may work, but doesn't change the fact that the whole HVAC system is 30+ years old.
You can't expect to just replace one boiler out of say 2 or 3 and expect the other(s) to last another 30 years till they consider doing the whole system.
3. Control system that it will be replaced with probably not much more powerful than a Raspberry Pi.
Most of the cost is probably the AC and heating units and LABOR. The control part are probably the least of the costs.
FWIW. It is really bad that we have to have the Governments of the world to tell manufacturers to improve their products efficiency. Mostly I think of autos, but there probably are alot of things (Energy Star?) that have improved because of the governments rather than bringing the best product to market in the first place.