Memorandum

City of Lawrence

City Manager’s Office

TO:	David L. Corliss, City Manager
CC:	Casey Toomay, Assistant City Manager
FROM:	Diane Stoddard, Assistant City Manager Britt Crum-Cano, Economic Development Coordinator
DATE:	October 21, 2014
RE:	Termination of Base Lease Agreement, Lease Agreement and Bond Trust Indenture for Neuvant House II

Background

The City of Lawrence authorized issuance of Industrial Revenue Bonds via Ordinance No. 8901 on September 3, 2013 to provide funds for acquiring, constructing and equipping the Neuvant House II specialty healthcare facility.  Authorization and approval of IRB documents were accommodated within Section 4 of the ordinance, including a Base Lease Agreement, Lease Agreement, and Bond Trust Indenture.

As the project has been completed and the Bond has been cancelled by the Trustee, the

Base Lease Agreement, Lease Agreement, and Indenture are of no further force or effect and should be terminated.

Action Requested

Authorize the Mayor to execute a Termination of Base Lease Agreement, Lease Agreement and Bond Trust Indenture for the Neuvant House II project.