Logo on pants
 

First off, I assume when it referes to pants, that can mean pants or shorts, right?

Reading case play 3.4.5 it says that all five starters are wearing pants that have a legal mascot and a legal manufacturer's logo and it says this is legal. What I can't find is the rule that allows both.
3-4-5 States that "Uniform pants/skirts shall have only one visible manufacturer's logo/trademark/reference. See 3-6-2 for size requirements."
And I can't find anywhere where it says a school Mascott is allowed on the pants/shorts. Any help would be appreciated.

Yes, pants means shorts or pants. If is doesn't say that it's not allowed, it is allowed. Therefore from what you've posted (and not digging into the rule book myself), I would allow it. There are not make restriction for the pants in basketball.

-Josh