CHICAGO -- Indianapolis plans to borrow $135 million to finance a citywide infrastructure campaign through 2016, Mayor Greg Ballard announced last week.

The 30-year bonds will be backed by a pledge of state transportation funding, which is expected to increase by $7.5 million a year under a new state gas tax formula, according to the mayor’s office. 

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.