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Issuer Type: Pool/Bond Bank/Conduit
Moral Obligation Debt
Series 2019 A-1 and A-2
School Severance (State Intercept 1x DS Coverage)
School Severance (State Intercept 2x DS Coverage)
Common School Fund Bonds
Advanced Funding Program Notes
On behalf of the Indiana Bond Bank, I would like to welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the Indiana Bond Bank, as it allows us to make critical investments in public infrastructure throughout Indiana. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.
I hope you find this website useful as you seek to better understand the credit fundamentals of the Bond Bank. Please do not hesitate to contact our office with suggestions for how we can improve. Thanks again for your interest in our bond program.
Mark Wuellner, Executive Director
The roots of the Common School Fund (CSF) go back to the State’s beginnings. As Treasurer Kelly Mitchell said, “Our founders recognized in the State’s Constitution that ‘knowledge and learning…[are] essential to the preservation of a free government’. The Common School Fund exists to realize that vision by ensuring schools have access to low-interest loans with which to create a structured and safe learning environment”.
School corporations apply directly to the State Department of Education (DOE) for school building construction and education technology program loans, which DOE recommends approval of loans to the State Board of Education. Indiana Bond Bank’s role is behind the scenes, ensuring the CSF fund balance remains adequate to serve schools’ future needs and demands.
“Providing support to improve such key components as technology and safety within our schools is vital to the success of any district,” said Dr. Jennifer McCormick, Indiana Superintendent of Public Instruction. “The $85 million being made available will go a long distance in serving the needs of school corporations across the state.”
Indiana Bond Bank Executive Director Mark Wuellner noted that “Making available over $85 million to Indiana’s public schools is one of the most satisfying accomplishments during my tenure. By ensuring an ample source of low-interest funding for construction, technology and safety needs, Indiana schools can remain laser-focused on what they do best – educating Indiana’s next generation.”
For more information about the operation of CSF, or regarding applying for a CSF loan, please email CommonSchoolFund@doe.in.gov.
For more information on the Indiana Bond Bank bond issuance to replenish the CSF, please click here for the roadshow video that accompanied offering.
Please click below for more information.
The Indiana Bond Bank knows that many of our Interim Loan Program borrowers and prospective borrowers rely on USDA-RD for long-term financing. Thus, we understand that the government shutdown has put many of you in a challenging situation. The Indiana Bond Bank wants to assure you that we are monitoring closely any, and all updates regarding how this shutdown will affect Indiana Bond Bank programs and will continue to seek out solutions to minimize the impact of any delays experienced during this time.