City of Andover Resolution No. 26-16 Relating to the Exercise of Option to Purchase 2026-06-09
Andover Approves Aveda Institute Project Sale to MandS
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Description
The City of Andover authorized the exercise of MandS, LLC’s option to purchase the Aveda Institute Project, originally financed with 2014 industrial revenue bonds. Upon surrender of the Series B, 2014 bonds and payment of $1,000 to the City, the facility will be conveyed and the lease and trust indenture will be terminated and released.
Contract Details
Contract Amount
$1,000 (plus prior bond retirement and defeasance payments)
Vendor
MANDS LLC
Agency
City of Andover, KS
Contract Type
FINANCIAL_SERVICES
Document Date
June 9, 2026
Renewal Info
This action exercises the tenant’s option to purchase, terminating the existing lease and trust indenture; no renewals remain under the bond-financed lease structure.
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