Gov. Eric Holcomb ceremonially signed a bill into law to enhance the work of the Indiana Bond Bank.
The legislation allows for the Indiana Bond Bank to create a special purpose vehicle (SPV) credit enhancement program for local units of government.
Frequently, the Indiana Bond Bank is used as a ‘lender of last resort’.
The SPV will provide an opportunity for those communities to get a higher credit rating and lower their borrowing costs, returning more tax dollars to the community.
