The only way the district will save money in the short term is if they can resell their computers once they buy the new clients and servers. In the long term, unless the district has world class Linux administrators ON HAND TODAY, they're buying into a sales pitch that will make everyone from the Superintendent to the youngest kindergarten student in the district miserable. "Runnin' a large, distributed Linux network-over a wireless LAN!-ain't like dustin' crops, boy!"
In theory everything about the concept is workable. In practice, Linux isn't ready for user installation, particularly when you're dealing with a Mac user base. Managing a Linux network is much like running a Unix based network, but not exactly. Further, I'd be concerned about the security of the network unless someone with real credentials had vouched both for the hardware/software combinations, and for the qualifications and ability of the administrative staff. Note the word "staff;" you're going to need a bunch of really skilled and experienced administrators for this system, and not just your 'run of the mill geeks,' either. You will need people who are not simply technically adept, but are as good as explaining things as Isaac Asimov was. Good luck!