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 Indiana State Revolving Fund (SRF) Loans Update – An Important Date  
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Indiana State Revolving Fund (SRF) Loans Update –

An Important Date

 

Many of you may have received the SRF Summer Newsletter which contained important information regarding the SRF program and its accomplishments for the year. As explained in that newsletter, certain projects in the SRF's fundable range may qualify for an SRF loan at below-market interest rates. Communities qualifying for these interest-rate-subsidized loans for the State Fiscal Year 2008 (July 1, 2007 to June 30, 2008) need to be aware that these loans must be closed by December 31, 2007 to avoid being bypassed for Fiscal Year 2008 funding.

 

Communities in the fundable range wishing to obtain these below-market-interest- rate loans should work with their engineers, legal counsel, bond counsel and financial advisor to close these loans by December 31, 2007.

 

The professionals at Umbaugh are assisting many of communities working toward loan closing. Please contact us at footnotes@umbaugh.com if you would like assistance.
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To ensure compliance with U.S. Treasury Department Regulations, we are required to advise you that, unless otherwise expressly indicated, any federal tax advice contained in this communication, including any attachments, is not intended or written by us to be used, and cannot be used, by anyone for the purpose of avoiding federal tax penalties.