Aspects of Federal Office Building in Indianapolis

LCD-77-306: Published: Nov 11, 1976. Publicly Released: Nov 11, 1976.

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The cost and financing of a new Federal office building in Indianapolis and the contract for food service in the building were examined.

Construction was financed under Public Law 92-313, which gave GSA a three-year authorization to make purchase contracts for financing and construction of public buildings. Construction of the Indianapolis building was authorized in April 1964; funds were obtained from the sale of 30-year 7.20 participation certificates with a principal amount of $22.7 million. Redemption of the certificates began in 1975 with the redemption of $500,000 of certificates by GSA, leaving $22.2 million outstanding. In April 1976, there were 811 holders of record; 24 of these holders had certificates totalling $100,000 or more. (RRS)

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