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Indiana Bond Bank

Bond Bank > General Information General Information

General Information Document

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
    1. The Treasurer of State is statutorily appointed to serve as chairman of the board
    2. The Public Finance Director of the Indiana Finance Authority is statutorily appointed to the board
    3. 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