Projects

On June 17th, 2025, the Health and Hospital Corporation of Marion County Board approved the issuance of bonds to refund all or a portion of the Health and Hospital’s outstanding 2010As G.O. bonds. Additionally, on July 9th, 2025, the Indianapolis-Marion County Building Authority Board approved the issuance of bonds to refund all or a portion of the Indianapolis-Marion County Building Authority’s outstanding 2010B-2 bonds. The refunding of the 2010A-2 and 2010B-2 bonds had the primary purpose of achieving cash flow savings, releasing the cash funded Debt Service Reserve Fund through use of a surety policy, and eliminating financial risks associated with Build America Bonds (“BABs”).

Through a November 2009 referendum , a majority of voters voted in favor of a plan to issue bonds and/or enter into a lease to finance the Eskenazi (formally known as “Wishard”) Hospital Complex project. The 2010 bonds and 2013A bonds helped to finance a patient centered state-of-the-art medical facility. BABs were introduced in 2009 under the American Recovery and Reinvestment Act to help government issuers access lower-cost financing during the financial crisis. The federal government originally agreed to reimburse issuers for 35% of interest costs. However, starting in 2013, these subsidy payments have been reduced annually due to federal budget sequestration, with a fixed 5.7% reduction in place since 2021. Additionally, federal reimbursements have increasingly faced delays, arriving later each year for many issuers.