Resources

View additional resources from The Indianapolis Local Public Improvement Bond Bank, including our contact information, MSRB EMMA® Links, Frequently Asked Questions, Qualified Entities, Request for Proposals, Bond Bank Audits, Continuing Disclosure, and Annual Bond and Note Report.

Frequently Asked Questions

Looking for more information about us and our bond programs? Get answers to common questions by following the link below.

View FAQ

Contact Us

Still have questions? You can reach us by mail, phone, or email.

Mailing Address

200 East Washington St, Suite 2342

Indianapolis, IN 46204

Phone: (317) 327-4220

Email us

Qualified Entities

The Indianapolis Bond Bank was created for the purpose of buying and selling securities of certain qualified entities, including the city, county, all of the city’s special taxing districts, all entities with tax levies that are subject to review and modification by the City-County Council, and certain authorities or entities that lease land or facilities to qualified entities.

The Indianapolis Bond Bank helps each of the qualified entities lower their respective borrowing costs by purchasing their debt securities at interest rates which are favorable to them. To accomplish this purpose, the Indianapolis Bond Bank issues bonds or notes and works each entity throughout the debt issuing process to ensure optimal results are achieved.

The Bond Bank also assists each of the entities in the day-to-day management of its existing debt by maintaining relationships with each of the rating agencies, assessing and analyzing existing and future market conditions, investor outreach, and post-issuance compliance matters.  As a conduit issuer, the Bond Bank provides expertise and counsel to the Qualified Entities with the intent of providing better access and results in various forms of capital markets transactions.


Consolidated City of Indianapolis and Marion County, Indiana

200 E Washington St. (Suite 2222) Indianapolis, IN 46204| (317) 327-4310

Incorporated in 1832, the Consolidated City of Indianapolis and Marion County, Indiana is the largest city in the state of Indiana and the 15th largest city in the nation with a population of 855,164 and a metropolitan statistical area population of almost two million people. Indianapolis is located in the geographic center of the state and serves as its political, physical, economic, and cultural capital.

The Office of Finance and Management (OFM) is the governmental unit responsible for the City's financial management.

Key Management Personnel:

Mayor Joseph H. Hogsett, 49th Mayor of Indianapolis
Fady Qaddoura, City Controller

Ratings:

Type of DebtStandard & Poor's Rating AgencyMoody's Investor ServicesFitch RatingsKroll Bond Rating Agency
Moral Obligation (M.O.)AA-Aa3AA-
General Obligation (G.O.)AA+AaaAAAAA+

Health and Hospital Corporation of Marion County

3838 N Rural St. Indianapolis, IN 46205 | (317) 221-2000

Formed in 1951, the Health & Hospital Corporation of Marion County (HHC) is a municipal corporation established by Indiana Code 16-22-8. This corporation operates the Marion County Public Health Department, Eskenazi Health, Eskenazi Health Foundation, Indianapolis Emergency Medical Services (EMS), and the Division of Long Term Care

Key Management Personnel:

Matthew Gutwein, President & CEO
Dan Sellers, CFO/Treasurer

Ratings:

Type of DebtStandard & Poor's Rating AgencyMoody's Investor ServicesFitch RatingsKroll Bond Rating Agency
General Obligation (G.O.)AAAa1--
LeaseAAAa2--

Indianapolis Public Transportation Corporation (IndyGo)

1501 W Washington St. Indianapolis, IN 46222 | (317) 635-2100

Established in 1975, the Indianapolis Public Transportation Corporation (IndyGo) is a municipal corporation that manages and operates Indianapolis and Marion County's public bus transit system. IndyGo is the largest public transportation provider in the state of Indiana, it operates 32 bus routes providing nearly 10 million passenger trips a year.

Key Management Personnel:

Inez Evans, President & CEO
Nancy Manley, Vice President of Finance & Controller


Indianapolis Airport Authority

7800 Col. H. Weir Memorial Dr. (Suite 100) Indianapolis, IN 46241| (317) 487-9594

Established by the Indiana General Assembly in 1962, the Indianapolis Airport Authority (IAA) is a municipal corporation that owns, develops, and operates six airports in the Indianapolis metropolitan area including the Indianapolis International Airport (IND), Downtown Heliport (8A4), Eagle Creek Airpark (EYE), Hendricks County Airport-Gordon Graham Field (2R2), Indianapolis Regional Aiport (MQJ), and the Metropolitan Airport (UMP).

Key Management Personnel:

Mario Rodriguez, Executive Director
Robert Thomson, Senior Director of Finance & Treasurer

Ratings:

Type of DebtStandard & Poor's Rating AgencyMoody's Investor ServicesFitch RatingsKroll Bond Rating Agency
RevenueAA1A-

Indianapolis-Marion County Building Authority

200 E Washington St. (Room T-311) Indianapolis, IN 46204| (317) 327-4343

Created in 1953, the Indianapolis-Marion County Building Authority (IMCBA) is an independent municipal corporation that serves the needs of Indianapolis local government by acquiring, financing, constructing, and managing building projects. 

Key Management Personnel:

Mark R. Peterson, General Manager
Wanda Elliot, Finance Director


Capital Improvement Board of Managers of Marion County

100 S Capitol Ave. Indianapolis, IN 46225| (317) 262-3400

The Capital Improvement Board (CIB) is a municipal corporation created in 1965 by the Indiana General Assembly. The Capital Improvement Board finances, constructs, equips, operates, and maintains any capital facilities or improvements of general public benefit or welfare which promote and serve the commercial, industrial, and cultural interest of Indiana and its citizens. The CIB operates and owns the Indiana Convention Center, Lucas Oil Stadium, Bankers Life Fieldhouse, Victory Field, and Hudnut Commons

Key Management Personnel:

Barney Levengood, Executive Director
Timothy M. Kuehr, Chief Financial Officer



Marion County Convention and Recreational Facilities Authority

100 S Capitol Ave. Indianapolis, IN 46225| (317) 262-3400

The Marion County Convention and Recreational Facilities Authority (MCCRFA) was created in 1985 as an instrumentality of Marion County. The Authority is organized to acquired, finance, construct, and lease capital improvement to the Capital Improvement Board of Managers of the Marion County. In addition, the Authority has financed local public improvements for leases to the Metropolitan Development Commission of Marion County, acting as the Redevelopment Commission of the City of Indianapolis. 

Key Management Personnel:

Andy Mallon, Executive Director
Timothy M. Kuehr, Chief Financial Officer

Ratings:

Type of DebtStandard & Poor's Rating AgencyMoody's Investor ServicesFitch RatingsKroll Bond Rating Agency
RevenueAAAa3--

Charter Schools (Sponsored by the Mayor's Office of Education Innovation)

200 E Washington St. (Suite 2501) Indianapolis, IN 46204| (317) 327-3601

The Mayor’s Office of Education Innovation (OEI) provides and promotes high-quality school options for students. OEI authorizes and oversees 31 Mayor-sponsored charter schools, 4 turnaround schools, and collaborates with local organizations to expand access to quality early childhood and workforce development programs.

Key Management Personnel:

Patrick McAlister, Director
Brian Dickey, Assistant Director of Finance


Fort Harrison Reuse Authority

9120 Otis Ave. (Suite 200) Indianapolis, IN 46216| (317) 377-3400

The Fort Harrison Reuse Authority (FHRA) is a special purpose unit of government created to revitalize the economy following the closure of the Fort Benjamin Harrison Army Base in 1995. The FHRA was established by IC 36-7-30 in 1995 for the “planning, replanning, rehabilitation, development, redevelopment, and other preparation for reuse of military bases and military base property” as this is a “public and governmental function that cannot be accomplished through the ordinary operations of private enterprise.”

Key Management Personnel:

Aletha Dunston, Executive Director
Russell Brown, Treasurer


Citizens Energy Group

2020 N Meridian St. Indianapolis, IN 46202| (317) 924-3311

In 1887, Indianapolis civic leaders came up with the idea of operating a natural gas company as a Public Charitable Trust, solely for the benefit of customers and the community. Today, this Trust lives on as Citizens Energy Group, a broad-based utility service company, providing natural gas, thermal energy, water, and wastewater services to about 800,000 people and thousands of businesses in the Indianapolis area.  At Citizens, our vision is to fulfill the promise of the Trust to serve our customers and communities with unparalleled excellence and integrity.

Key Management Personnel:

Jeffrey Harrison, President & CEO
John Brehm, Senior Vice President & Chief Financial Officer

Ratings:

Type of DebtStandard & Poor's Rating AgencyMoody's Investor ServicesFitch RatingsKroll Bond Rating Agency
RevenueAA-A2A-
View Qualified Entities

Annual Bond and Note Report

Outstanding Debt (Annual Bond & Note Report)

In early 2014, the Bond Bank recognized a need to produce a comprehensive annual report on the status of all outstanding debt held by the Bond Bank and its Qualified Entities. This Report’s purpose is to offer a single document that organizes and describes all bonds and notes issued by the Bond Bank as well as provide summaries of transactions for that particular fiscal year. Also includes is a breakdown of both current and relevant historical data for each Qualified Entity. Working with each Qualified Entity individually, the Bond Bank staff and its consultants have devoted hundreds of hours in drafting and forming the Indianapolis Local Public Improvement Bond Bank Annual Bond and Note Report.

The first installment of the Report is for the 2014 fiscal year (the fiscal year being the calendar year). It is the intent of the Bond Bank’s leadership to update this report and make it ready for publication within the 1st quarter of each calendar year. Undoubtedly, the Report and its delivery will be updated and revised to present the most relevant and accurate information to each of its readers.

It is our intention that this document benefits all its readers: banks, underwriters, investors, elected officials, rating agencies, financial advisors, and attorneys. However, we also want this document to be user-friendly and straightforward so the general public and citizens/taxpayers of Indianapolis and Marion County can read and understand its content with ease.

The information used in the Report is taken from the books and records of the Bond Bank and, the official statements and offering documents associated with the respective debt issuances. The Annual Bond & Note Report is neither a financial statement nor an independent audit of the Bond Bank or any qualified entity.

2018 ILPIBB Annual Bond and Note Report

View Annual Bond and Note Report

Bond Bank Audits

Audits

Pursuant to Indiana Code §5-1.4-3-5, the Bond Bank is required to complete an annual audit of its books and accounts.  The Bond Bank submits the audit and a report of its activities for each fiscal year to the Mayor.  The objective of the audit is to express an opinion of whether the Bond Bank’s financial statements are fairly presented, in all material respects, in conformity with accounting principles generally accepted in the United States. The audit is conducted in accordance with auditing standards generally accepted in the United States established by the AICPA Auditing Standards Board and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. It includes tests of the Bond Bank’s accounting records and other procedures considered necessary to enable the auditors to express such an opinion. The audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. The audit also evaluates the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as the overall presentation of the financial statements. The goal is to obtain a reasonable, rather than absolute, assurance that the financial statements are free of material misstatement, whether that be from errors, fraudulent financial reporting, misappropriation of assets, or violations of laws or governmental regulations that are attributable to the Bond Bank or to acts by management or employees acting on behalf of the Bond Bank.

The auditors also provide an impartial report on internal control related to the financial statements and compliance with the provisions of laws, regulations, contracts, and grant agreements. Noncompliance could have a material effect on the financial statements as required by Government Auditing Standards. The purpose of the report is solely to describe the scope and result of testing of internal control over financial reporting and compliance and does not provide an opinion on the effectiveness of internal controls or compliance. It is an integral part of an audit performed in accordance with Government Auditing Standards.

Below are the most recent Bond Bank Audits:

View Bond Bank Audits

Continuing Disclosure

Pursuant to continuing disclosure requirements promulgated by the Securities and Exchange Commissions ("SEC") in its Rule 15c2-12. as amended (the "SEC Rule"), the Qualified Entities, as obligors, and the Indianapolis Local Public Improvement Bond Bank, acting as dissemination agent for the Qualified Entities, will enter into a Continuing Disclosure Undertaking Agreement. Under the terms of the Disclosure Contract, the Qualified Entities will agree to timely provide or cause to be provided, to the Indianapolis Local Public Improvement Bond Bank, for the dissemination by the Bond Bank for the benefit of the Bondholders and the Beneficial Owners.

Contact Information for Continuing Disclosures:
Kyle J. Willis
Associate Director and Chief Compliance Officer
(317) 327-5887 | kyle.willis@indy.gov


Material Events

Citizen's Energy - Moody's Rating Upgrade (as of July 26, 2018) 
Citizen's Energy - S&P Rating Upgrade (as of July 25, 2018)
City of Indianapolis - Fitch Rating Affirmation (as of July 12, 2018)
MBIA now National Moody's Downgrade (as of January 17, 2018)

Redacted CCA 2010L-1 and 2010L-5 (as of August 1, 2017)
Redacted CCA 2010L-2 (as of August 1, 2017)
Redacted CCA 2010L-3 (as of August 1, 2017)
Redacted CCA 2010L-4 (as of August 1, 2017)

Health and Hospital Corporation - Fitch Ratings Withdrawal (as of May 26, 2017)

View Continuing Disclosure

Request for Proposals

Requests for Proposals ("RFP") or Requests for Qualifications ("RFQ") are issued under the Indianapolis Local Public Improvement Bond Bank's general power to make contracts under I.C. 5-1.4-3. A submittal of an RFP or an RFQ does not guarantee that the firm will be contracted to perform any services by only serves notice to the Indianapolis Bond Bank that the firm desires to be considered. 

Contact Information for Request for Proposals:
Karen H. Strunk
Project Manager
(317) 327-4303 | karen.strunk@indy.gov

Please contact us to be included in our RFP distribution list.


Upcoming Request for Proposals

 


Request for Proposals (2018)

Request for Qualifications for Investment Banking and Underwriting Services for the Indianapolis Airport Authority

September 7, 2018 | Bond Bank RFQ-IAA-2018-002

Request for Qualifications - Underwriting Services for the Indianapolis-Marion County Community Justice Campus
July 13, 2018 | Bond Bank RFQ-CJC-2018-002

Indianapolis Airport Authority Repo Agreement - Alternative Flexible Investment Bid Request
April 12, 2018 | Bond Bank RFP-IAA-2018-001

$55 Million Short-Term New Money Financing Services for the Indianapolis-Marion County Community Justice Campus
February 1, 2018 | Bond Bank RFP-CJC-2018-001

Request for Proposals (2017)

Indianapolis Airport Authority - Support Subordinate Commerical Paper, Lines of Credit or other Interim Funding Vehicles
November 21, 2017 | Bond Bank RFP-IAA-2017-001

$22 Million Short-Term New Money Financing Services for the Indianapolis-Marion County Community Justice Campus
August 3, 2017 | Bond Bank RFP-CJC-2017-005

Design and Design Criteria Consulting Services for the Indianapolis-Marion County Community Justice Campus
June 9, 2017 | Bond Bank RFP-LJF-2017-004

Owner's Representative for Design Management Services for the Indianapolis-Marion County Law and Justice Facilities
January 17, 2017 | Bond Bank RFP-LJF-2017-003

Owner's Representative for Construction Management Services for the Indianapolis-Marion County Law and Justice Facilities
January 17, 2017 | Bond Bank RFP-LJF-2017-002

Financial Advisor Services for the Indianapolis-Marion County Law and Justice Facilities
January 17, 2017 | Bond Bank RFP-LJF-2017-001

View Request for Proposals