The Iowa Finance Authority announced it has recently executed a contract for a $321.53 million bond deal that will generate a savings of $33 million for the State Revolving Fund. The savings will ultimately benefit Iowa communities and municipalities that have used or will use the fund to finance construction or upgrades to drinking water or wastewater infrastructure, the agency said. The AAA-rated bonds issued are the first designated as “Green Bonds,” the proceeds of which will be used to finance projects that adhere to the federal Clean Water Act and Safe Drinking Water Act. A portion of the bonds will be used to refund outstanding bonds, and a portion will be used to reimburse the State Revolving Fund for disbursements to existing loans. Jointly administered by the IFA and the Iowa Department of Natural Resources, the fund has provided more than $2.4 billion in financing to more than 500 municipalities and communities since its inception.