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Indianapolis Bond Bank outlines planned financings for Indigo, Old City Hall, stormwater and airport projects
Summary
The Indianapolis Bond Bank briefed the Administration Finance Committee on recent and planned debt issuances, its role in coordinating local government debt, and recent credit-rating affirmations; a public commenter raised concerns about declining local property assessments.
Joe Glass, executive director and general counsel of the Indianapolis Bond Bank, told the Administration Finance Committee that the Bond Bank coordinates debt issuance and management for local government entities in Marion County and is not presenting a budget for approval.
The Bond Bank, Glass said, acts as a centralized debt manager for qualified entities including the city of Indianapolis, the Marion County Building Authority, Health and Hospital Corporation, the Capital Improvement Board, IndyGo and the Indianapolis Airport Authority. "We convene subject matter experts in one agency, reduce the duplication of work and administrative burdens on our qualified entities, and centralize the debt management process," Glass said.
Glass said the Bond Bank completed five major financings this year, including $125,000,000 for the IndyGo Blue Line project. Ongoing…
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