About

Learn about The Indianapolis Local Public Improvement Bond Bank, including Featured News, Key Projects, and Finance Team.

Bonds Outstanding (as of 9/30/2021)
$4,012,951,634
AAA/Aaa/AA+/AA+
Qualified Entities
10

About The Indianapolis Local Public Improvement Bond Bank

In 1985, with the assistance of the Indiana General Assembly, the City of Indianapolis established the Indianapolis Local Public Improvement Bond Bank, the first municipal bond bank in the country. The Bond Bank is a municipal corporation that serves as the debt issuance and management arm of the City of Indianapolis and related “Qualified Entities.” These entities include special taxing districts, political subdivisions, and building/leasing authorities. Since its inception, the Indianapolis Local Public Improvement Bond Bank has issued nearly $13 billion in bonds and notes on behalf of various Qualified Entities of the City of Indianapolis and Marion County.

The Bond Bank’s structure allows for the centralized management and supervision of all debt issued by governmental entities throughout Marion County. By coordinating all locally-issued debt, including general obligation and revenue bonds, the Bond Bank provides leadership and guidance through the capital markets and the sale of municipal bonds and other debt instruments. For example, the Bond Bank coordinates the timing of all city and Qualified Entity bond sales. The Bond Bank also maintains relationships and regular communications with representatives from the national credit rating agencies and assists with securing ratings when necessary and providing frequent updates to the agencies on the City’s economy, employment figures, major developments, and the annual budget and audit process. The Bond Bank actively monitors local and national bond markets, as well as financial and economic trends that impact bond issuance structures, timing, and interest rates.

With the assistance of the professionals employed by the various Qualified Entities, the Bond Bank also prepares documents related to bond issuances, manages trustee banks and the collection and disbursement of bond proceeds. The Bond Bank is also primarily responsible for investor outreach and communication, including obligations under continuing disclosure agreements. By centralizing the management of all debt issued by local government entities, the debt management process is simplified and the Bond Bank can provide organization, structure, and consistency to investors interested in purchasing securities issued by Indianapolis entities.

Key Projects

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Finance Team

Sarah S. Riordan

Executive Director & General Counsel

(317) 327-4220

sarah.riordan@indy.gov

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Kyle J. Willis

Associate Director & Chief Compliance Officer

(317) 327-5887

kyle.willis@indy.gov

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Laurie Canatsey

Chief Financial Officer

(317) 327-4264

laurie.canatsey@indy.gov

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Isaiah Kuch

Senior Project Manager

(317) 327-5896

isaiah.kuch@indy.gov

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Karen Strunk

Project Manager

(317) 327-4303

karen.strunk@indy.gov

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Aidan Parker

Assistant Project Manager

(317) 327-4128

Aidan.Parker@indy.gov

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André Zhang Sonera

Project Manager for Community & Economic Development

(317) 327-5541

andre.zhangsonera@indy.gov

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Norm Gurwitz

Board Chair

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Sarah Rubin

Board Vice Chair

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Michael Carter

Board Member

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Dr. Terri Jett

Board Member

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Dr. Ryan Nagy

Board Member

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