The trustees of any district may:
(1) purchase or rent a school bus;
(2) purchase or rent a communication system or safety device for a school bus when the trustees authorize a communication system or safety device as standard equipment in a school bus because the bus is operated where weather and road conditions may constitute a hazard to the safety of the school pupil passengers;
(3) provide for the operation, maintenance, and insurance of a school bus or a communication system or safety device owned or rented by the district; or
(4) contract with a private party for the transportation of eligible transportees. The contract may not exceed the term of 5 years.