Indiana Treasurer Daniel Elliott announced Wednesday that the Indiana Bond Bank assisted the Town of Sheridan with financing dump trucks through its Hoosier Equipment Lease Purchase (HELP) Program.
The $301,794 purchase of essential equipment was made possible through this program.
Elliott
“The HELP Program is super simple with just a one-page form, helping cities and towns score great rates with flexible terms,” Elliott said. “Without it, many places might not afford the gear they need to keep things running smoothly.”
The HELP program assists Indiana communities in obtaining essential equipment through a standardized and efficient lease-purchase process. It provides standard-term leases with flexible repayment options at competitive rates. By effectively securing competitive bids from various financial institutions statewide, the program ensures the lowest financing costs, thereby saving taxpayer money.
Since its inception, the HELP program has financed over $471 million in essential equipment for Indiana communities.
About the Indiana Bond Bank
The Indiana Bond Bank (IBB) was established as a self-supporting quasi-government entity by the Legislature in 1984. A seven-member board oversees the Bond Bank, with the Treasurer serving as the chair of the board, the Public Finance Director of the Indiana Finance Authority is statutorily appointed, with the remaining five members being appointed by the Governor. The Bond Bank assists local governments in the process of issuing debt and provides the following programs: the Advance Funding Program, Community Funding Resource Program, Hoosier Equipment Lease Purchase (HELP) Program, Fuel Budgeting Program, and Interim Loan Program.