Created in
Bond Ratings
Bonds Outstanding
$1.58 billion

About Indiana State Revolving Fund Bonds

The State Revolving Fund (SRF) Loan Programs provide low-interest loans to Indiana communities for projects that improve wastewater and drinking water infrastructure. The Program's mission is to provide eligible entities with the lowest interest rates possible on the financing of such projects while protecting public health and the environment. SRF also funds non-point source projects that are tied to a wastewater loan.

Who are the loan participants?

  • Cities, towns counties, regional sewer/water districts, conservancy districts and water authorities are eligible for wastewater, drinking water and nonpoint source SRF loans.
  • Private and not-for-profit facilities are eligible only for drinking water SRF loans.

Sources of funds for the program?

  • The State applies to the U.S. Environmental Protection Agency annually for capitalization grants to fund its SRF Programs. To increase available funds, the State leverages its U.S. EPA capitalization grants in the municipal bond market. These funds are combined with the U.S. EPA required State match and are then made available to Indiana communities in the form of low-interest-rate loans. For more information on the U.S. EPA's involvement in the SRF Loan Programs, visit the U.S. EPA's Clean Water SRF or Drinking Water SRF Web sites.

Types of projects?

Any project where there is an existing pollution abatement need is eligible for SRF funding.

  • Wastewater projects include:
    • Treatment plant improvements and upgrades;
    • Sewer line extensions to existing unsewered properties;
    • Combined sewer overflow corrections; and
    • Infiltration/inflow projects.
  • Drinking Water projects include:
    • Treatment plant improvements and upgrades;
    • Water line extensions to existing unserved properties; and
    • Water storage facilities.
  • Nonpoint source projects include:
    • Wetland protection and restoration measures;
    • On-site sewage disposal systems;
    • Best Management Practices for agriculture and stormwater runoff;
    • Riparian Buffers and Conservation Easements; and
    • Wellhead and Source Water Protection measures;
    • Eligible Brownfield Projects.

Welcome Letter

On behalf of the Indiana Finance Authority, I would like to welcome you to our investor relations website. We appreciate your interest and investments in our State Revolving Fund bonds issued by the Authority, as it allows us to make critical investments in wastewater and drinking water infrastructure throughout the State of Indiana. We are committed to maintaining our strong bond ratings, and we are also committed to being as transparent as possible with the investor community and public at large.

I hope you find this website useful as you seek to better understand the credit fundamentals of the Indiana State Revolving Fund. Thanks again for your interest in our bond program.