FINANCIAL_SERVICESPENDING

City of Bonner Springs Agenda 2026-06-22

City Moves To Terminate Sterling Screen Printing IRBs

$890,000 (Series 2006) and $1,000,000 (Series 2012) in industrial revenue bondsCity of Bonner SpringsSTERLING SCREEN PRINTING INCJune 22, 2026

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Description

The City of Bonner Springs is considering a resolution to terminate industrial revenue bonds for the Sterling Screen Printing, Inc. project, totaling $890,000 in Series 2006 and $1,000,000 in Series 2012, and to execute deeds and releases to complete the option-to-purchase under the lease. This action would conclude the City’s role in the IRB financing structure for the project in 2026.

Contract Details

Contract Amount

$890,000 (Series 2006) and $1,000,000 (Series 2012) in industrial revenue bonds

Vendor

STERLING SCREEN PRINTING INC

Agency

City of Bonner Springs, KS

Contract Type

FINANCIAL_SERVICES

Document Date

June 22, 2026

Contract Term

Industrial revenue bond project initiated with Series 2006 and Series 2012; termination/option to purchase in 2026

Renewal Date

2026-06-22

Renewal Info

This action represents the exercise of an option to purchase and termination of the IRB lease structure for Series 2006 and Series 2012, rather than a renewal or extension.