Putnam County, Indiana — $12,025,000 General Obligation Bonds of 2026

Bernardi Securities, Inc. served as underwriter on Putnam County, Indiana’s issuance of $12,025,000 in General Obligation Bonds of 2026.

About the County

Putnam County is located in west-central Indiana, approximately 50 miles west of Indianapolis and 40 miles northeast of Terre Haute. Founded in 1821, the County has a strong agricultural foundation with small industrial and commercial influences. The City of Greencastle serves as the county seat. According to the U.S. Census Bureau, the estimated population of the County as of July 1, 2024, is 37,804.

The County is home to DePauw University, a residential liberal arts college with an enrollment of 1,858 students and one of the County’s largest employers. The university — founded in 1837 — is an integral part of the community, offering residents academic, cultural, and recreational resources. Ivy Tech Community College also serves County residents through its Greencastle campus. The County is governed by three County Commissioners and a seven-member County Council.

Purpose of the Bonds

Proceeds from the bonds, together with approximately $4,200,000 in County cash on hand, will fund the construction and equipping of a new County annex building and all related appurtenances and improvements. Total estimated project cost is $15,802,000.

Bond Details

The bonds are general obligations of the County, secured by ad valorem property taxes levied on all taxable property within Putnam County. Interest is payable semi-annually on July 15 and January 15, beginning July 15, 2026, with maturities extending through January 15, 2046. The bonds were issued under the authority of Indiana Code 36-2-6-18 and pursuant to a Bond Ordinance adopted by the County Council on April 21, 2026.

Bond Counsel was Ice Miller LLP, Indianapolis, Indiana. The municipal advisor was Baker Tilly Municipal Advisors, LLC, Indianapolis, Indiana.