General Information
Indiana Bond Bank Structure
- Created by the General Assembly in 1984
- Self-supporting quasi-government entity
- A seven member board of directors governs the Bond Bank
- The Treasurer of State is statutorily appointed to serve as chairman of the board
- The Public Finance Director of the Indiana Finance Authority is statutorily appointed to the board
- The Governor appoints 5 (five) board members
Debt Issuance through the Bond Bank
- The Bond Bank operates as a financing conduit
- The Bond Bank purchases bonds and notes from communities
- The Bond Bank pools these issues together and in turn issues
its own obligations to the open market - The pooling process allows communities to realize savings that are achieved through the sharing of fixed costs and economies of scale
- Communities may also benefit from certain bonds supported by the "moral obligation" of the state
Bond Bank Programs
- Advance Funding Program assists communities in issuing tax anticipation warrants
- HELP Program assists communities in acquiring essential equipment
- QSCB Program (Qualified School Construction Bonds) assists schools in little or no interest loans
- Fuel Budgeting Program assists communites in budeting fuel costs
- Pool Program assists communities in issuing long-term debt
- BAN or Bond Anticipation Note assists communities in issuing interim financing for their project until long-term debt is issued
- Water Utility Revenue Bond Program assists 501-c-12 not-for-profit utilities in the issuance of debt
Questions? Call us at 317-233-0888 or 800-535-6974 or Email
