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Indiana Bond Bank

Bond Bank > Program Information & Applications > Bond Anticipation Notes Bond Anticipation Notes

Often communities need to have access to construction funds prior to the issuance (in anticipation) of long-term bonds. The Bond Bank offers its assistance by purchasing your BAN directly or placing it with an Indiana financial institution or investment banker.

Please note that interim financing is available to communities whether or not the Bond Bank is used for the issuance of the final bond issue including financing for Rural Development (USDA-RD) construction loans.

BAN Fee Schedule

The following fees will be charged to any qualified entity to issue a Bond Anticipation Note through the Indiana Bond Bank. These fees apply only to qualified entities that do not issue the related long-term debt through the Bond Bank.

Administrative Fee:

.04 % of the 1st

$500,000

.03 % of the next

$500,000

.025 % of the next

$2,000,000

.02 % of the next

$3,000,000

.01 % of the balance

- Minimum Fee $ 150

- Minimum Fee Due at the Time of Application

Additional Professional Costs:

Any professional costs (legal fees, financial advisor fees, etc.) incurred by the Bond Bank will be charged directly to the participant.

Refunds:

A refund of the administrative fee will be made only to an applicant that does not receive the approval of the Bond Bank’s Board of Directors. The applicant will still be responsible for payment of any professional costs incurred by the Bond Bank.

Questions? Call us at 317-233-0888 or 800-535-6974 or Email