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Learn about Projects and Programs for Indiana Bond Bank Investor Relations, including Advance Funding Program, HELP Program, and Interim Loan Program.
Since 1989, Indiana Bond Bank has offered a twice a year program to assist local units of government with their annual cash flow needs - the "Advance Funding Program".
IBB provides funds for the purchase of temporary loan tax or revenue anticipation warrants (the “Warrants”), such as the ones described below in this memorandum.
IBB eliminates the need to bid the financing of the Warrants. (I.C. 5-1.5-8-3)
IBB may purchase Warrants issued by certain local units of government, including, without limitation, school corporations, cities, townships, towns, counties, library corporations and special taxing districts (the “Qualified Entities”).
The Warrants in each case are issued in anticipation of the receipt of ad valorem taxes levied and in the course of collection (and, in the case of: (1) school corporations, may be also issued in anticipation of the receipt of State tuition support distributions in the course of collection; or (2) townships, may be also issued in anticipation of other revenues to be collected during the remainder of the calendar year of the issuance of such Warrants), thereby alleviating cash flow difficulties through the financing of cash flow deficits of such Qualified Entities.
Advance Funding is offered as a pooled program, in which Qualified Entities’ needs are pooled and funded together. Pooling allows participating Qualified Entities to share costs. Interim, short term funds are available.
The Hoosier Equipment Lease Purchase (HELP) Program assists local units of government in acquiring essential items of equipment through a standardized and streamlined lease-purchase process. Since 1991, the HELP Program has assisted over 200 communities in obtaining various items of equipment worth over $220 million.
Five Reasons Why Local Units of Government Choose HELP:
The Bond Bank’s Interim Loan Program (ILP) provides local units of government with access to short-term funding in anticipation of long-term financing. ILP funds are available to all Indiana municipalities that are expected to receive long-term financing through a variety of sources, including Federal or State loans and grants.
The Bond Bank’s Pool Program allows local communities to “pool” their debt in order to effectively reduce the costs associated with the issuance of debt. Projects include construction, maintenance, expansion of municipal utility systems or other building projects. Entities may also issue bonds on a “stand-alone” basis.
The Community Funding Resource program was created to assist local units of government in obtaining affordable financing for any projects under $2 Million. Community Funding Resource is intended to be a catch-all of public projects types allowing the program to serve as a compass that can move in any direction.
Indiana Office of Community and Rural Affairs (OCRA) has identified a trend in which projects that have received CDBG awards are facing post-award financing gaps. These can be caused from a number of situations including construction bid overruns. Financing gaps often cause project delays and force communities to have to identify additional funding sources in order to complete the project. The Indiana Bond Bank has created GAP in partnership with OCRA as a financial tool that will offer an additional funding option in these instances.
Fuel prices are volatile and make the budgeting process difficult. The Fuel Budgeting Program provides a tool for local government to protect against market volatility by acting as insurance against rising and unpredictable fuel prices. Please contact us to learn more.