DES MOINES, IA – State Treasurer Michael Fitzgerald reports the Iowa outstanding debt obligations for state and local governments totaled $17.9 billion as of June 30, 2020, a 4.77% increase from fiscal year 2019. “This is similar to the increase we saw last year,” said Fitzgerald. “With interest rates this low, public units are borrowing money to pay for capital projects that benefit Iowans, such as public buildings, schools and utility improvements.” The categories of public buildings/schools and utilities/sewers represent over 60% of the total debt reported.
Cities recorded the largest share of outstanding debt ($6.56 billion), accounting for 36.56% of the total outstanding debt – an increase of over $259 million from 2019. Schools issued $4.45 billion while state authorities issued $2.84 billion. Counties, state authorities and community colleges had the highest percentage increases from 2019 levels, while the State of Iowa, Board of Regents and utilities decreased their total outstanding debt.
All political subdivisions, instrumentalities and agencies of the State are required annually to 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 website at IowaTreasurer.gov and click ‘Outstanding Obligations Report’ under the ‘For Governments’ tab to view the report. Click on Report Detail by County to view additional information for all entities by county. Keep up with all of the Treasurer’s Office programs on Facebook and Twitter by following @IowaTreasurer.
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 | $1,515,000.00 |
| General Obligation | Utilities/Sewers | G O Bonds | 06-01-2027 | $700,000.00 |
| Loans | Utilities/Sewers | Engineering and design SRF Loan for Wastewater Treatment Plant | 06-12-2035 | $3,551,448.95 |
| Loans | Utilities/Sewers | Water Plant and Refinance of Jan 07 Bonds | 06-01-2026 | $830,000.00 |
| Total Debt as of 2020: | $6,596,448.95 |
Fun Facts:
- Atkins’s per capita debt of $3,949.97 is ranked 635th out of 731 reporting.
Belle Plaine Outstanding Obligations
| Security Class | Purpose Type | Description | Final Maturity | Amount |
|---|---|---|---|---|
| General Obligation | Parks/Recreation | Pool/Refunding | 06-01-2029 | $1,230,000.00 |
| General Obligation | Housing/Urban Dev. | Refunding Streetscape | 06-01-2028 | $1,115,000.00 |
| General Obligation | Housing/Urban Dev. | Hanson/Iowa Bldg | 06-01-2024 | $195,000.00 |
| General Obligation | Utilities/Sewers | Wellfield purchase | 06-01-2023 | $149,538.00 |
| Revenue Bonds | Utilities/Sewers | Sewer | 06-01-2037 | $2,808,000.00 |
| Total Debt as of 2020: | $5,497,538.00 |
Fun Facts:
- Belle Plaine’s per capita debt of $2,169.51 is ranked 484th out of 731 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 | $276,000.00 |
| Revenue Bonds | Utilities/Sewers | Water Revenue | 06-01-2022 | $102,000.00 |
| Total Debt as of 2020: | $505,482.00 |
Fun Facts:
- Blairstown’s per capita debt of $730.47 is ranked 199th out of 731 reporting.
Garrison Outstanding Obligations
| Security Class | Purpose Type | Description | Final Maturity | Amount |
|---|---|---|---|---|
| General Obligation | Utilities/Sewers | Sewer Rehabilitation Project | 06-01-2037 | $182,000.00 |
| Revenue Bonds | Utilities/Sewers | Sewer Rehabilitation Project | 06-01-2038 | $143,000.00 |
| Total Debt as of 2020: | $325,000.00 |
Fun Facts:
- Garrison’s per capita debt of $876.01 is ranked 237th out of 731 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 2020: | $2,356,582.60 |
Fun Facts:
- Keystone’s per capita debt of $3,788.72 is ranked 625th out of 731 reporting.
Mount Auburn Outstanding Obligations
| Security Class | Purpose Type | Description | Final Maturity | Amount |
|---|---|---|---|---|
| Revenue Bonds | Utilities/Sewers | Sewer | 07-01-2049 | $158,000.00 |
| Revenue Bonds | Utilities/Sewers | Utilities – Water System | 12-15-2020 | $8,096.01 |
| Total Debt as of 2020: | $166,096.01 |
Fun Facts:
- Mount Auburn’s per capita debt of $1,107.31 is ranked 296th out of 731 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 2020: | $2,414,275.83 |
Fun Facts:
- Newhall’s per capita debt of $2,759.17 is ranked 549th out of 731 reporting.
Norway Outstanding Obligations
| Security Class | Purpose Type | Description | Final Maturity | Amount |
|---|---|---|---|---|
| General Obligation | Utilities/Sewers | Waste Water Treatment Plant | 06-01-2037 | $452,250.00 |
| General Obligation | Utilities/Sewers | Water Improvement Funds | 06-01-2022 | $12,000.00 |
| Revenue Bonds | Utilities/Sewers | Waste Water Treatment Facility | 06-01-2038 | $2,732,000.00 |
| Total Debt as of 2020: | $3,196,250.00 |
Fun Facts:
- Norway’s per capita debt of $5,864.68 is ranked 702nd out of 731 reporting.
Shellsburg Outstanding Obligations
| Security Class | Purpose Type | Description | Final Maturity | Amount |
|---|---|---|---|---|
| General Obligation | Other | Annual payment on principal $115,000.00 | 06-01-2032 | $990,000.00 |
| General Obligation | Other | Downtown Streetscape Project – West Pearl Street & Main Street Made $ 30,000.00 annual payment | 06-01-2034 | $980,000.00 |
| Revenue Bonds | Utilities/Sewers | Made a $108,000.00 annual payment | 06-01-2023 | $344,000.00 |
| Total Debt as of 2020: | $2,314,000.00 |
Fun Facts:
- Shellsburg’s per capita debt of $2,354.02 is ranked 508th out of 731 reporting.
Urbana Outstanding Obligations
| Security Class | Purpose Type | Description | Final Maturity | Amount |
|---|---|---|---|---|
| General Obligation | Transportation | Streets | 06-01-2026 | $330,000.00 |
| General Obligation | Transportation | City Hall Project | 06-01-2023 | $305,000.00 |
| General Obligation | Public Buildings/Schools | City Hall & Emergency Service Building | 06-30-2022 | $21,500.00 |
| General Obligation | Public Safety | Fire Truck | 06-30-2022 | $15,000.00 |
| General Obligation | Transportation | Streets | 06-30-2022 | $3,500.00 |
| Revenue Bonds | Utilities/Sewers | Sewer Plant – Bond #2 | 06-01-2030 | $1,757,000.00 |
| Revenue Bonds | Utilities/Sewers | Sewer Plant – Bond #1 | 06-01-2030 | $27,000.00 |
| Total Debt as of 2020: | $2,459,000.00 |
Fun Facts:
- Urbana’s per capita debt of $1,686.56 is ranked 405th out of 731 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 | $332,616.72 |
| General Obligation | Utilities/Sewers | Sewer GO Note | 06-01-2022 | $108,037.50 |
| Revenue Bonds | Utilities/Sewers | Sewer Revenue Note | 06-01-2022 | $137,039.00 |
| Revenue Bonds | Utilities/Sewers | Water Revenue Note | 06-01-2024 | $97,527.50 |
| Total Debt as of 2020: | $675,220.72 |
Fun Facts:
- Van Horne’s per capita debt of $990.06 is ranked 266th out of 731 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 |
| Total Debt as of 2020: | $1,880,000.00 |
Fun Facts:
- Vinton’s per capita debt of $357.62 is ranked 111th out of 731 reporting.
Walford Outstanding Obligations
| Security Class | Purpose Type | Description | Final Maturity | Amount |
|---|---|---|---|---|
| Revenue Bonds | Housing/Urban Dev. | TIF Rebate | 06-01-2022 | $33,016.00 |
| Total Debt as of 2020: | $33,016.00 |
Fun Facts:
- Walford’s per capita debt of $22.57 is ranked 8th out of 731 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 | $2,690,000.00 |
| Revenue Bonds | Public Buildings/Schools | renovation of existing buildings | 07-01-2029 | $2,490,000.00 |
| Total Debt as of 2020: | $5,180,000.00 |
Fun Facts:
- Belle Plaine CSD’s per capita debt of $10,702.48 is ranked 189th out of 285 reporting.
Benton CSD Outstanding Obligations
| Security Class | Purpose Type | Description | Final Maturity | Amount |
|---|---|---|---|---|
| Revenue Bonds | Public Buildings/Schools | School Infrastructure | 07-01-2027 | $3,156,001.00 |
| Revenue Bonds | Public Buildings/Schools | School Infrastructure | 07-01-2029 | $2,849,485.00 |
| Total Debt as of 2020: | $6,005,486.00 |
Fun Facts:
- Benton CSD’s per capita debt of $3,945.79 is ranked 74th out of 285 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 | $4,210,000.00 |
| Total Debt as of 2020: | $4,210,000.00 |
Fun Facts:
- Vinton – Shellsburg CSD’s per capita debt of $2,766.10 is ranked 52nd out of 285 reporting.
Jim Magdefrau 