Fort Wayne City Utilities has successfully completed a financing package through the Indiana Finance Authority’s State Revolving Loan Fund Loan Program for water infrastructure improvements.
Fort Wayne City Utilities news release:
City Utilities Closes Financing Package for Water Infrastructure Improvements
Saves $17 MillionFort Wayne, Indiana (June 5, 2026) – City Utilities has successfully completed a financing package through the Indiana Finance Authority’s State Revolving Loan Fund (SRF) Loan Program, securing significant long-term savings while advancing critical water infrastructure investments. The transaction is expected to generate approximately $17.2 million in total savings over the life of the financing.
The financing package supports ongoing water utility improvements, including lead service line replacement initiatives and other water system enhancement projects designed to improve reliability, safety, and service for customers.
The financing consists of three components:
- $5 million in taxable bonds at zero percent interest
- $3 million in tax-exempt bonds at 3.08% interest
- $5 million in principal forgiveness through a Bond Anticipation Note (BAN)
The financing also highlights City Utilities’ strong financial foundation and prudent fiscal management. The utility’s established credit strength and history of successful infrastructure investment continue to position it favorably for partnerships that deliver long-term value to customers.
“This financing underscores the meaningful support that the Indiana State Revolving Fund provides to communities across Indiana,” said Justin Brugger, Deputy Director/Chief Financial Officer for City Utilities. “Our partnership with the SRF allows us to invest in critical water infrastructure at exceptionally favorable financing terms, helping us address important system needs while being responsible stewards of our customers’ dollars. City Utilities’ strong financial position and credit profile, combined with SRF’s innovative financing programs, create a powerful partnership that benefits our customers and community. We are grateful for the continued collaboration and support from the Indiana Finance Authority and the SRF team, whose commitment to local communities makes projects like these possible.”
City Utilities remains committed to making strategic investments that strengthen the community’s water infrastructure while maintaining affordability and long-term financial sustainability.
About City Utilities
City Utilities provide safe, reliable water and wastewater services to residents and businesses throughout the Greater Fort Wayne region. Through continued investment in infrastructure, the utility works to protect public health, support economic growth, and ensure dependable service for future generations. Its water, sewer, and stormwater utilities all maintain AA credit ratings.
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