State Agencies

In 1954, City Securities was a co-manager for the first bond issue from the state of Indiana since 1851 when canals were in vogue. The $280 million bond issue financed the construction of the Indiana Toll Road, helping connect Chicago with the east coast. It took another twenty-five years for Indiana to decide to try again, but since 1980 City Securities has been a manager or co-manager of the projects that have been financed by the state through all of its various agencies. These projects have constructed state office buildings, roads, prisons, provided home mortgages and student loans, funded local utility improvements, expanded jobs, and even improved the Indiana Toll Road once again.

City Securities has sold bonds on behalf of the following State Agencies and Conduit Organizations since 1995:

  • Indiana Bond Bank (Multiple Issues for Numerous Purposes)
  • Indiana Educational Facilities Authority (Multiple Issues for Several Issuers)
  • Indiana Development Finance Authority (Multiple Issues)
  • Indiana Recreational Development Commission
  • Indiana State Office Building Commission (Several Issues for Various Purposes)
  • Indiana Transportation Finance Authority, (Highway Revenue Bonds)
  • Indiana Health Facilities Authority (Multiple Issues for Various Providers)
  • Indiana Housing Finance Authority (Multiple Issues)
  • Indiana Municipal Power Agency
  • Indiana Finance Authority (*)

(*) In order to provide economic efficiencies and management synergies and enable the state of Indiana to communicate as one voice with the various participants in the financial markets, the Indiana Development Finance Authority, the State Office Building Commission, the Indiana Transportation Finance Authority, the Recreational Development Commission, the State Revolving Fund Programs and the Indiana Brownfields Program were consolidated into a new and separate entity called the Indiana Finance Authority ("IFA") on May 15, 2005.