State and Local Outstanding Debt Obligations Increase 4.8 Percent

DES MOINES, Iowa – State Treasurer Michael Fitzgerald reports the Iowa outstanding debt obligations for state and local governments totaled $17.1 billion as of June 30, 2019, a 4.84% increase from fiscal year 2018. “While this is the largest percentage increase since 2011, it is not alarming,” stated Fitzgerald. “This growth is expected in a time when interest rates are low.”
Cities recorded the largest share of outstanding debt, accounting for 36.79% of the total outstanding debt and totaling $6.2 billion. Rounding out the top three are schools with $4.2 billion and state authorities with $2.2 billion. Iowa Finance Authority and Tobacco Settlement Authority are included in the state authorities’ category. Community colleges, State of Iowa and the Board of Regents were the only entities to decrease their total outstanding debt from fiscal year 2018.
All political subdivisions, instrumentalities and agencies of the state are required to annually disclose outstanding long-term obligations to the state treasurer. Included in these obligations are bonds, notes, capital leases and loans. The treasurer’s office makes this information available to all Iowans by county so they can see the total debt and changes over the years in their own communities.
Visit the state treasurer’s office website at IowaTreasurer.gov and click ‘Outstanding Obligation Report’ under the ‘For Governments’ tab to view the report and additional information by a specific reporting entity. Keep up with all of the treasurer’s office programs on Facebook and Twitter.
Atkins Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Utilities/Sewers | GO SRF Loan for the building and construction. | 06-01-2035 | $1,595,000.00 |
General Obligation | Utilities/Sewers | G O Bonds | 06-01-2027 | $770,000.00 |
Loans | Utilities/Sewers | Engineering and design SRF Loan for Wastewater Treatment Plant | 06-12-2035 | $3,830,448.95 |
Loans | Utilities/Sewers | Water Plant and Refinance of Jan 07 Bonds | 06-01-2026 | $960,000.00 |
Loans | Parks/Recreation | Purchase of tractor. | 06-01-2020 | $22,824.75 |
Total Debt as of 2019: | $7,178,273.70 |
- Atkins’s per capita debt of $4,298.37 is ranked 660th out of 728 reporting.
Belle Plaine Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Parks/Recreation | Pool/Refunding | 06-01-2029 | $1,355,000.00 |
General Obligation | Housing/Urban Dev. | Refunding Streetscape | 06-01-2028 | $1,245,000.00 |
General Obligation | Housing/Urban Dev. | Hanson/Iowa Bldg | 06-01-2024 | $242,000.00 |
General Obligation | Utilities/Sewers | Wellfield purchase | 06-01-2023 | $184,000.00 |
Revenue Bonds | Utilities/Sewers | Sewer | 06-01-2037 | $2,967,000.00 |
Total Debt as of 2019: | $5,993,000.00 |
- Belle Plaine’s per capita debt of $2,365.04 is ranked 526th out of 728 reporting.
Blairstown Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Utilities/Sewers | Planning and Design Loan for Sewer Improvements | 04-04-2021 | $127,482.00 |
Revenue Bonds | Transportation | Street Project | 06-01-2025 | $338,000.00 |
Revenue Bonds | Utilities/Sewers | Water Revenue | 06-01-2022 | $150,000.00 |
Revenue Bonds | Utilities/Sewers | Water TIF | 06-01-2020 | $40,000.00 |
Total Debt as of 2019: | $655,482.00 |
- Blairstown’s per capita debt of $947.23 is ranked 280th out of 728 reporting.
Keystone Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Utilities/Sewers | New Water Tower | 06-01-2026 | $123,000.00 |
Revenue Bonds | Utilities/Sewers | Lagoon Upgrade SEGR system | 06-01-2037 | $1,882,582.60 |
Revenue Bonds | Utilities/Sewers | New Water Mains | 06-01-2027 | $351,000.00 |
Total Debt as of 2019: | $2,356,582.60 |
- Keystone’s per capita debt of $3,788.72 is ranked 639th out of 728 reporting.
Newhall Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Utilities/Sewers | Sewer Project and Main Street Project CS-1920718-01 and WRR14-016 | 06-01-2035 | $2,414,275.83 |
Total Debt as of 2019: | $2,414,275.83 |
- Newhall’s per capita debt of $2,759.17 is ranked 566th out of 728 reporting.
Norway Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Utilities/Sewers | Waste Water Treatment Plant | 06-01-2037 | $474,250.00 |
General Obligation | Utilities/Sewers | Water Improvement Funds | 06-01-2022 | $18,000.00 |
Revenue Bonds | Utilities/Sewers | Waste Water Treatment Facility | 06-01-2038 | $2,857,000.00 |
Total Debt as of 2019: | $3,349,250.00 |
- Norway’s per capita debt of $6,145.41 is ranked 707th out of 728 reporting.
Van Horne Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Public Buildings/Schools | Community buildings Project- Community Center and Library | 06-01-2033 | $308,000.00 |
General Obligation | Utilities/Sewers | Sewer GO Note | 06-01-2022 | $144,000.00 |
General Obligation | Transportation | 4-Lane Note | 06-01-2020 | $16,400.00 |
Revenue Bonds | Utilities/Sewers | Sewer Revenue Note | 06-01-2022 | $201,000.00 |
Revenue Bonds | Utilities/Sewers | Water Revenue Note | 06-01-2024 | $151,000.00 |
Total Debt as of 2019: | $820,400.00 |
- Van Horne’s per capita debt of $1,202.93 is ranked 336th out of 728 reporting.
Vinton Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Transportation | street projects | 06-30-2023 | $835,000.00 |
General Obligation | Utilities/Sewers | downtown improvement & advance refunding | 06-01-2023 | $790,000.00 |
General Obligation | Transportation | GO & Water refunding | 06-01-2022 | $255,000.00 |
Revenue Bonds | Utilities/Sewers | water revenue | 06-01-2022 | $7,000.00 |
Total Debt as of 2019: | $1,887,000.00 |
- Vinton’s per capita debt of $358.95 is ranked 111th out of 728 reporting
Benton CSD Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
Revenue Bonds | Public Buildings/Schools | School Infrastructure | 07-01-2029 | $3,287,088.00 |
Revenue Bonds | Public Buildings/Schools | School Infrastructure | 07-01-2029 | $3,191,748.00 |
Total Debt as of 2019: | $6,478,836.00 |
- Benton CSD’s per capita debt of $4,313.47 is ranked 84th out of 290 reporting.
Belle Plaine CSD Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Public Buildings/Schools | renovation of existing buildings | 05-01-2029 | $2,444.25 |
Revenue Bonds | Public Buildings/Schools | renovation of existing buildings | 07-01-2029 | $2,862,415.25 |
Total Debt as of 2019: | $2,864,859.50 |
- Belle Plaine CSD’s per capita debt of $5,870.61 is ranked 121st out of 290 reporting.
Vinton – Shellsburg CSD Outstanding Obligations
Security Class | Purpose Type | Description | Final Maturity | Amount |
---|---|---|---|---|
General Obligation | Other | Represents crossover refunding of bonds dated 12/1/2004 and 5/1/2005 Refund General Obligation | 05-01-2024 | $5,310,000.00 |
Total Debt as of 2019: | $5,310,000.00 |
- Vinton – Shellsburg CSD’s per capita debt of $3,528.24 is ranked 69th out of 290 reporting.