The Bond Bank Bulletin: Q2 2018




So when I suggested that we do a movie edition of the Bond Bank in the spirit of the summer blockbuster, I overlooked one tiny detail.  Not that I miss having my headshot stare back at me, but to be swapped out for the angry green floating Wizard of Oz head…man, that’s funny.  The Bond Bank, Your Friendly Face of State Government. 

In the spirit of the quote, I had the rare opportunity to peek “behind the curtain” and travel to D.C. to provide policy guidance to our partners at USDA-RD on unlocking access to capital and propelling rural prosperity. 

Indiana Bond Bank was the only state actor invited to this forum alongside large, private national lenders and industry groups.  That fact is significant and shows recognition that we’re not sitting still. The invitation served to boost our belief that others are taking notice of our efforts over the last 9 months to change the dynamic for the local entities who we serve.  

USDA-RD has seen firsthand some of the innovation going on here in Indiana, having in February flown from D.C. to participate in a facilitated brainstorming designed to improve an already strong program. 

Three key enhancements for 2018-2019 for the Interim Loan Program came out of our collective work.

· Creating a closing calendar, with pooled monthly closings to reduce costs and enhance efficiency

· Fixing our cost of issuance, to eliminate variability for our borrowers

· Matching our interim financing interest rate to the USDA-RD permanent financing rate, to provide rate certainty for our borrowers

As a result of these changes and our belief in the program structure, I asked our Board of Directors to expand access to the Interim Loan Program to any qualified entity. Now, for the first time since the program started in 2014, interim or construction financing is available through the Bond Bank.  Bond anticipation, grant anticipation or other federal or state take-out similar to USDA-RD are all eligible for the expanded program.

We’re applying this same care and thought into developing other new programming.  That’s as much of a teaser trailer as I can give you…we’ve got some fun things cooking.  Coming soon to a QE near you, right?  If I have to be Oz head, I’ll embrace it.  Because my team probably forgot that the Wizard has the best quote in the whole movie – “A heart is not judged by how much you love, but by how much you are loved by others.”  I judge our Bond Bank heart to be full, and that’s thanks to the generosity and love you’ve shown us over these past 9 months.  We are driven every day to honor that love. 

As always, please don’t hesitate to reach out with any questions! 

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We’re not looking for a Superman or a Wonder Woman.  Just a hard-working, creative person to help us in our mission to create vibrant communities in Indiana.  If you believe, as we do, that the foundation of success for Hoosiers starts with strong schools, libraries and local governments, the Bond Bank is a great place to directly make an impact. 

In the Program Development Director role, you’ll communicate our message and develop new initiatives.  The job description can be found at under the Welcome header or on the state job bank at  Applications will be accepted through July 6th to



Aaron Barnett of the Bond Bank presents to the Indiana Association of School Business Officials annual conference on the continuing disclosure obligations related to debt issued through the Bond Bank.  Kudos to IASBO and Ice Miller LLP for the opportunity.

Aaron also hosted a continuing disclosure webinar with Crowe LLP.  If you were not able to attend, the link is here.



On June 12th, Mark participated in USDA-Rural Development’s National Lender Partnership Forum.  At USDA-RD’s new Innovation Center in Washington D.C., the Forum was a collection of lenders and USDA-RD leadership focused on driving innovation and partnership on critical issues facing rural communities. 

As the only state entity, Mark shared with attendees the state of the rural lending market in Indiana, and participated in a discussion forecasting rural needs in the next 3 years. 


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The new Interim Loan Program is a cost-effective way to secure interim financing for a variety of needs on timelines that work for you.  In today’s rising interest rate environment you’ll find IBB’s rates and costs of issuance a competitive advantage. Take the next step by completing this 4 question no-obligation indication of interest here. 

Upcoming Events


July 9, 2018 – Submit Notice and materials for July Interim Loan Program closing

July 18, 2018 – July Interim Loan Program closing date

August 1, 2018 – Fuel budgeting program applications will be available

August 6, 2018 – Submit Notice and materials for August Interim Loan Program closing

August 14, 2018 - Board of directors meeting

August 15, 2018 – August Interim Loan Program closing date

August 27, 2018 – Advance Funding applications are available (or before)

September 10, 2018 – Submit Notice and materials for September Interim Loan Program

September 10 – 11 – Indiana School Board Association Conference, Indianapolis, IN

September 16, 2018 -  Association of Counties Conference, Indianapolis, IN (Exhibitor Booth Open)

September 19, 2018 – September Interim Loan Program closing

September 21, 2018 – Fuel  budgeting program applications are due

September 23-26 – Indiana Township Association Conference, Indianapolis, IN