City of Indianapolis, IN – G.O. Surveillance Report

Rating Summary

The long-term rating for the City of Indianapolis (the City) general obligation (GO) bonds issued through the Indianapolis Local Public Improvement Bond Bank (the Bond Bank) reflects management’s use of comprehensive financial planning practices to address statutory tax limitations, resulting in a consistent record of structurally balanced operations; a vibrant economy that sustains both a large and growing property tax base and expanding employment opportunities; and a moderately low long-term obligation burden combined with ample liquidity that affords significant financial flexibility. Offsetting these strengths are below average per capita income level and above-average poverty rate. While attributable, in part, to the City’s large student population, these demographic indicators compare unfavorably to state and national averages.

The GO bonds are backed by a pledge of the City’s full faith and credit and taxing authority. Pursuant to the bond ordinance, the GO bonds…