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 Authority program ("IBBA"), a municipality obtains a loan from the IBBA secured by either the municipality's bond or a loan agreement with the IBBA. The IBBA 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 IBBA can obtain better credit ratings, more attractive interest rates, and lower underwriting costs than municipalities could achieve individually. The IBBA is able to pledge certain state funds as additional security for its bonds, further reducing interest costs.

The IBBA 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.

The State Treasurer, or their designee, serves as chairperson of the Idaho Bond Bank Authority. The Authority is an instrumentality of the state within the State Treasurer’s office but has a legal existence independent of and separate from the state. The authority has five members which include the State Treasurer, one appointee from the House of Representatives, one appointee from the Senate and two members appointed at large by the Governor. The Idaho Bond Bank serves to develop, implement and approve the issuance of low-cost financing options to local municipalities in Idaho. The Bond Bank combines the bonds issued by multiple local municipalities into a single large tax-exempt bond and then sells that bond in the national municipal bond market. With a high investment grade (Aa1) from Moody’s Investor Service and with economies of scale, the Bond Bank is able to obtain lower interest rates than most local government entities can obtain independently.


Notice for Meetings and Agendas



Idaho Statutes

IBBA Forms

IBBA Policies

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:
  • Board Meetings to approve applications will be tentatively be held as follows:
    • Third Monday of December, March, June and September
  • Board meetings to approve resolutions will tentatively be held as follows:
    • Third Monday of January, April, July and October
Issue Month Application Deadline
End of January November 30th
End of April February 28th
End of July May 31st
End of October August 31st

Idaho Bond Bank Financial Statements

Recent Bond Issues

Most recent Moody's Rating Report

Most recent Summary of Sale Report

Informational Material





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 advisers 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?