FINANCIAL_SERVICESAPPROVED

Indiana Bond Bank and Town of Thorntown Purchase Agreement March 2026

Indiana Bond Bank buys $3.55M Thorntown water bonds

$3,550,000 (Net Purchase Price to Town: $3,515,000; $35,000 retained for Bond Bank issuance costs)Town of ThorntownINDIANA BOND BANKMarch 13, 2026

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Description

The Indiana Bond Bank will purchase $3,550,000 of Town of Thorntown, Indiana Waterworks Revenue Bonds of 2026, providing $3,515,000 in net proceeds to finance water system upgrades. The Bond Bank retains $35,000 from the purchase price to cover its issuance and acquisition costs, and may pledge the obligations under its 2026A program bonds.

Contract Details

Contract Amount

$3,550,000 (Net Purchase Price to Town: $3,515,000; $35,000 retained for Bond Bank issuance costs)

Vendor

INDIANA BOND BANK

Agency

Town of Thorntown, IN

Contract Type

FINANCIAL_SERVICES

Document Date

March 13, 2026

Contract Term

Original date April 2, 2026; Qualified Obligations maturing per schedule in Appendix A, with optional redemption for maturities on and after January 1, 2037, callable on or after July 1, 2036

Renewal Info

One-time bond purchase tied to the Town of Thorntown Waterworks Revenue Bonds of 2026; Qualified Obligations are optionally redeemable for maturities on and after January 1, 2037, callable on or after July 1, 2036 at par plus accrued interest, without premium. No recurring renewal terms are specified.