Clean Water Initiative SRF Bonds

IFA issues State of Illinois Clean Water Initiative Revolving Fund Bonds (“SRF Bonds”) from time to time to finance the Illinois Environmental Protection Agency (the “IEPA”) Water Pollution Control Loan Program and the IEPA Public Water Supply Loan Program (collectively, the “SRF Programs”). The SRF Programs make loans to units of local government in Illinois to finance eligible wastewater treatment and sanitary sewage facilities and drinking water facilities.

Interest on tax‑exempt financing is generally well below the rates charged in either traditional bank financing or the taxable capital markets. Because interest paid to bondholders on SRF Bonds is not includable in their gross income for federal income tax purposes, bondholders are willing to accept a lower interest rate than they would accept if the interest was taxable.

Pursuant to a memorandum of agreement, IFA and IEPA coordinate as to the timing, structure and level of revenue bond issuance necessary in connection with the SRF Programs. IEPA is responsible for the overall management of the SRF Programs, including review and approval of planning documents, plans and specifications, legal authority, dedicated source of revenue, and disbursement requests. For more information about the SRF Programs, visit https://epa.illinois.gov/topics/grants-loans/state-revolving-fund.html.

In its capacity as the designated Climate Bank of the State, IFA is authorized to support investment in, finance costs of, and aid in all respects with providing financial assistance, programs, and products to finance and otherwise develop and provide and facilitate opportunities to develop and provide “clean water, drinking water and wastewater treatment” as referenced in the Illinois Finance Authority Act.

Each of the documents below posted to this website is current only as of such document’s date. Information contained in any such document may have a dated date that is different from the date the document was ultimately posted. IFA is not responsible for and is under no obligation to update information in any such document after it was originally posted in the event of new information, future events or other factors that may otherwise alter the accuracy of the information. Investors should not rely on these materials as being up-to-date or in making an investment decision.

• Series 2020 Green Bond Report 2024
• Series 2020 Green Bond Report 2023
• Series 2020 Green Bond Report 2022
• Series 2019 Green Bond Report 2021
• Series 2019 Green Bond Report 2020

IFA has designated John Prendiville, Senior Counsel (jprendiville@il-fa.com) as the primary contact for receipt of disclosures made by underwriters in compliance with Municipal Securities Rulemaking Board Rule G-17. In doing so, IFA respectfully requests that underwriters copy Brad Fletcher, Managing Director (bfletcher@il-fa.com).