IN Treasurer Announces Indiana Bond Bank 2020 Midyear Advance Application Rounds To Help Local Governments

"We hope this program can assist local governments as they strive to continue providing the same level of excellence to their constituents during this uncertain time."

(Indianapolis, Ind.) - Indiana State Treasurer Kelly Mitchell and the Indiana Bond Bank announced the 2020 Midyear Advanced Funding Program for local units of government across the state. 

This program helps local units of government with cash flow needs due to a mismatch in timing between budgeted revenues and expenses.

Although the Indiana Bond Bank offers this program annually, the program is being scaled up to meet potential needs of Hoosier cities, townships, towns, counties, library corporations, school corporations and special taxing districts.

"As a former Cass County Commissioner, I understand the financial demands our communities are facing," said Treasurer Kelly Mitchell, chair of the Indiana Bond Bank Board. "We hope this program can assist local governments as they strive to continue providing the same level of excellence to their constituents during this uncertain time."

This go-to resource for Indiana governmental units offers time-tested benefits including hands-on customer service, experienced professional team, zero out-of-pocket costs and efficient market access through pooling.

Additionally, the Indiana Bond Bank has added COVID-19 response features like the creation of multiple funding rounds throughout the calendar.

“One size does not fit all in this environment,” stated Mark Wuellner, Executive Director of the Indiana Bond Bank. “Each local unit is uniquely situated in how COVID-19 might affect them. The answers to if, when, or for how long a unit may need funds will differ. That’s why it was so critical to create multiple options to access the Midyear resource.” 

Since 1989, the Advance Refunding Program has served over 250 units and issued over $13.4 billion to Hoosier units of government.

Visit https://inbondbank.com/advance-funding-program/ or email at midyear@inbondbank.com to learn more about the program or to apply for financing.