CHICAGO — The Indiana Bond Bank will offer a pooled financing program to school districts across the state interested in issuing taxable qualified school construction bonds authorized under the American Recovery and Reinvestment Act.

Indiana received an allocation of $177 million in QSCBs for school corporations and $31 million for Indianapolis Public Schools, one of the largest districts in the country. The Bond Bank will sell its first tranche of the QSCBs later this year — tapping up to $77 million of the state authorization — and will distribute it in issues of $2 million or less to districts. The remaining $100 million will be issued in 2010 and distributed in pieces of $10 million or less.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.