Debt report given by State Treasurer for cities and schools in Benton County

State and Local Outstanding Debt Obligations Increase 4.8 Percent

Michael Fitzgerald r

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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationUtilities/SewersGO SRF Loan for the building and construction.06-01-2035$1,595,000.00
General ObligationUtilities/SewersG O Bonds06-01-2027$770,000.00
LoansUtilities/SewersEngineering and design SRF Loan for Wastewater Treatment Plant06-12-2035$3,830,448.95
LoansUtilities/SewersWater Plant and Refinance of Jan 07 Bonds06-01-2026$960,000.00
LoansParks/RecreationPurchase 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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationParks/RecreationPool/Refunding06-01-2029$1,355,000.00
General ObligationHousing/Urban Dev.Refunding Streetscape06-01-2028$1,245,000.00
General ObligationHousing/Urban Dev.Hanson/Iowa Bldg06-01-2024$242,000.00
General ObligationUtilities/SewersWellfield purchase06-01-2023$184,000.00
Revenue BondsUtilities/SewersSewer06-01-2037$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationUtilities/SewersPlanning and Design Loan for Sewer Improvements04-04-2021$127,482.00
Revenue BondsTransportationStreet Project06-01-2025$338,000.00
Revenue BondsUtilities/SewersWater Revenue06-01-2022$150,000.00
Revenue BondsUtilities/SewersWater TIF06-01-2020$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationUtilities/SewersNew Water Tower06-01-2026$123,000.00
Revenue BondsUtilities/SewersLagoon Upgrade SEGR system06-01-2037$1,882,582.60
Revenue BondsUtilities/SewersNew Water Mains06-01-2027$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationUtilities/SewersSewer Project and Main Street Project CS-1920718-01 and WRR14-01606-01-2035$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationUtilities/SewersWaste Water Treatment Plant06-01-2037$474,250.00
General ObligationUtilities/SewersWater Improvement Funds06-01-2022$18,000.00
Revenue BondsUtilities/SewersWaste Water Treatment Facility06-01-2038$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationPublic Buildings/SchoolsCommunity buildings Project- Community Center and Library06-01-2033$308,000.00
General ObligationUtilities/SewersSewer GO Note06-01-2022$144,000.00
General ObligationTransportation4-Lane Note06-01-2020$16,400.00
Revenue BondsUtilities/SewersSewer Revenue Note06-01-2022$201,000.00
Revenue BondsUtilities/SewersWater Revenue Note06-01-2024$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationTransportationstreet projects06-30-2023$835,000.00
General ObligationUtilities/Sewersdowntown improvement & advance refunding06-01-2023$790,000.00
General ObligationTransportationGO & Water refunding06-01-2022$255,000.00
Revenue BondsUtilities/Sewerswater revenue06-01-2022$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 ClassPurpose TypeDescriptionFinal MaturityAmount
Revenue BondsPublic Buildings/SchoolsSchool Infrastructure07-01-2029$3,287,088.00
Revenue BondsPublic Buildings/SchoolsSchool Infrastructure07-01-2029$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationPublic Buildings/Schoolsrenovation of existing buildings05-01-2029$2,444.25
Revenue BondsPublic Buildings/Schoolsrenovation of existing buildings07-01-2029$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationOtherRepresents crossover refunding of bonds dated 12/1/2004 and 5/1/2005 Refund General Obligation05-01-2024$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.

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