Common uses of loans issued through the program include:
- Facilities renovation and construction projects
- Road and highway improvements
- Energy efficiency upgrades
- Equipment purchases
- General infrastructure
Loans are made through the Pooled Loan Program in the winter and summer following the receipt of an application and approval by the Bond Bank’s Board.
Most borrowers begin their loan process by contacting the Bond Bank early on to receive an illustrative debt service schedule that can be used for the purposes of estimating potential budget impacts. Borrowers then formally apply to the Bond Bank following engagement of local bond counsel and approval to issue the bond.
Approved Legal Counsels
Local bond counsel serves a critical role in confirming the legality of our borrower’s debt issuances. Early engagement of local counsel will ensure that they will be able to provide a preliminary legal opinion alongside a loan application to the Bond Bank.