A bond bank is a state level entity which lends money to local governments within the state, with the goal of providing funds for their infrastructure needs and access to the capital markets at competitive interest rates.

Under the Idaho Bond Bank program "IBBA", a municipality obtains a loan from the Bond Bank secured by either the municipality's bond or a loan agreement with the Bond Bank. The Bond Bank pools several loans to municipalities into one bond issue. The municipalities then repay the loan, and those repayments are used to repay the revenue bonds. The Bond Bank can obtain better credit ratings, more attractive interest rates, and lower underwriting costs than municipalities could achieve individually. The Bond Bank is able to pledge certain state funds as additional security for its bonds, further reducing interest costs.

The Idaho Bond Bank Authority can open doors to municipalities that were previously barred from the capital markets due to the high costs of financing or challenging credit situations. The current underlying rating from Moody’s Rating Agency is Aa1.

• IBBA 2012D Bond Issue
  •  IBBA 2012D Investor Presentation
  
  
• Idaho Statutes
  • Idaho Code 67-8703
  • Idaho Code 67-8709
  • Idaho Code 67-8720
  
  
• IBBA Forms
  •  Bond Bank Loan Application
  
  
• IBBA Policies
  •  IBBA Loan Management Policy
  •  IBBA Underwriting Policy
  •  IBBA Post Issuance Tax Compliance Policy
  
  
• IBBA Bond Issuance Schedule
  • The IBBA has adopted a quarterly issuance schedule. Given specific deadlines, we believe this will help borrowers in the planning process. The issuance schedule is as follows:
    
    

    Issue Month	Application Deadline
    End of January	November 30th
    End of April	February 28th
    End of July	May 31st
    End of October	August 31st

    
    
  • Board meetings to approve applications will tentatively be held as follows:
    • Third Monday of December, March, June and September
    
    
  • Board meetings to approve resolutions will tentatively be held as follows:
    • Second Monday of January, April, July and October
    
    
• Idaho Bond Bank Statements
  •  2012 Financial Statement
  •  2010 Moody's Recalibration Letter
  •  2012B Official Statement
  •  2012B Moody's Rating Report
  •  2012C Official Statement
  •  2012C Moody's Rating Report
  
  
• Informational Material from BNY Mellon
  •  Arbitrage Rebate & Yield Restriction Requirements
  
  
• IBBA FAQs
  • Who is eligible to participate?
    • Participation is open to all state agencies and to all political subdivisions including: Cities, Towns, Counties, Public Retirement Systems, Regional School Districts, Local Public Agencies, Public Health Districts, Irrigation and Soil Conservation Districts and Water and Sewer Districts.
    
    
  • What is the cost to participate?
    • The amount of the charge to municipal borrowers will be determined by the size of the loan and the total number of borrowers, but is expected in all cases to be materially less than a municipality would incur for a similar financing on its own.
    
    
  • What type of borrowing needs will qualify?
    • Municipalities may apply to the Idaho Bond Bank for any loan that they are legally authorized to undertake by Idaho Law.
    
    
  • What is the application process?
    • Complete the application listed under “IBBA Forms” on this page.
    • The IBBA staff and advisors will review the application and other materials provided by the applicants.
    • Applications will be presented to the board (based on meeting calendar) for approval.
    • After approved, IBBA staff will work with participant or their representative to issue the bonds based on quarterly issuance schedule.
    • Approved applicants can expect to receive financing from the IBBA based on quarterly issuance schedule.
  
  
• Submit Idaho Bond Bank Authority Comments or Questions