City of Lenexa Agenda Packet 2026-06-16
City Finalizes IRB Redemption with Security Bank Trustee
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Description
Lenexa authorized final actions with Security Bank of Kansas City, trustee for the City’s $24 million Series 2022 industrial revenue bonds supporting Meritex Surface Buildings 3–5, to recognize bond redemption and terminate related leases. The trustee will certify full payment before the City releases its leasehold interest.
Contract Details
Contract Amount
$24,000,000 (original IRB principal)
Vendor
SECURITY BANK OF KANSAS CITY
Agency
City of Lenexa, KS
Contract Type
FINANCIAL_SERVICES
Document Date
June 16, 2026
Contract Term
Original Trust Indenture dated December 1, 2022, amended November 1, 2024; bonds now redeemed in 2026
Renewal Info
Trustee relationship under the Series 2022 Indenture concludes upon bond redemption and termination of the base lease and lease agreements.
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