City of Newton Regular Commission Meeting Agenda April 14, 2026
IRB trustee consents to SBA loan subordination
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Description
Newton and Security Bank of Kansas City executed a Consent and Subordination Agreement related to the Carsten Holdings IRBs. The trustee’s interests under the bond indenture are subordinated to an SBA mortgage to facilitate project financing.
Contract Details
Vendor
SECURITY BANK OF KANSAS CITY
Agency
Town of Newton, KS
Contract Type
FINANCIAL_SERVICES
Document Date
April 14, 2026
Renewal Info
Trustee’s original appointment and duties under the 2024 Trust Indenture continue; the April 14, 2026 agreement supplements those terms by subordinating certain rights to the SBA lender.
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