FARMERS BRANCH (S&P Global Ratings) Aug. 25, 2021--The Indiana Bond Bank's (IBB) trustee failed to make a $10,000 payment due Feb. 1, 2021 on its series 2019 A-2 special program refunding funds (CUSIP 45462THV7), according to a material disclosure notice published on the Electronic Municipal Market Access site on Aug. 23, 2021. The missed payment occurred despite IBB having deposited sufficient funds with the trustee prior to that date, but neither the IBB or the trustee became aware of the undisbursed funds until more than six months after the fact, according to the timeline described in the public disclosure. The disclosure states that IBB became aware of the missed payment on Aug. 11, and the payment cured on Aug. 13.
