Tennessee Municipal Bond Fund

The Tennessee Municipal Bond Fund ("TMBF") creates and administers various types of loan programs for the benefit of cities and counties. As an entity of the Tennessee Municipal League, TMBF works closely with city officials to structure cost-effective and flexible borrowing options. Any governmental purpose project qualifies for financing through the TMBF programs. The loan size and/or repayment term typically determines which program a borrower utilizes. Types of projects include but are not limited to schools, roads, utilities, public buildings, jails, equipment, and any other project considered to be of benefit to the public. Project funds are available for any size government.

History

Created in 1985, TMBF, began making loans in 1986. Since inception, programs administered by TMBF have resulted in total borrowings by local governments in Tennessee in excess of $3.1 billion. Many borrowers have multiple loans through one or more programs. Loan sizes range from $21,000 to $103 million. More than 160 local governments have utilized the services of TMBF resulting in tremendous cost savings for these borrowers. The interest rate on the popular variable rate pooled loan program has averaged under 3% since 1986.

Administration

TMBF is governed by a Board of Directors and staff that is ready to serve you.

Recent News

Recently Pugh & Company reexamined all borrowed invoices between May 1, 2004 and April 30, 2009.  They have completed their work and sent the following letter to the board with their full examination report.  Click either of the links in the previous sentence to download and review for yourself. 

Please read this response to the NYT article about swaps and derivitives in regards to variable rate programs. 

Read a Bio of Bond and Tax Counsel Lewis E. Bell, Jr.