Treasurer Fitzgerald Reports State and Local Outstanding Debt Obligations Increase 4.77 Percent

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. 

State Treasurer Michael Fitzgerald

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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationUtilities/SewersGO SRF Loan for the building and construction.06-01-2035$1,515,000.00
General ObligationUtilities/SewersG O Bonds06-01-2027$700,000.00
LoansUtilities/SewersEngineering and design SRF Loan for Wastewater Treatment Plant06-12-2035$3,551,448.95
LoansUtilities/SewersWater Plant and Refinance of Jan 07 Bonds06-01-2026$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationParks/RecreationPool/Refunding06-01-2029$1,230,000.00
General ObligationHousing/Urban Dev.Refunding Streetscape06-01-2028$1,115,000.00
General ObligationHousing/Urban Dev.Hanson/Iowa Bldg06-01-2024$195,000.00
General ObligationUtilities/SewersWellfield purchase06-01-2023$149,538.00
Revenue BondsUtilities/SewersSewer06-01-2037$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationUtilities/SewersPlanning and Design Loan for Sewer Improvements04-04-2021$127,482.00
Revenue BondsTransportationStreet Project06-01-2025$276,000.00
Revenue BondsUtilities/SewersWater Revenue06-01-2022$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationUtilities/SewersSewer Rehabilitation Project06-01-2037$182,000.00
Revenue BondsUtilities/SewersSewer Rehabilitation Project06-01-2038$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 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 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 ClassPurpose TypeDescriptionFinal MaturityAmount
Revenue BondsUtilities/SewersSewer07-01-2049$158,000.00
Revenue BondsUtilities/SewersUtilities – Water System12-15-2020$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 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 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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationUtilities/SewersWaste Water Treatment Plant06-01-2037$452,250.00
General ObligationUtilities/SewersWater Improvement Funds06-01-2022$12,000.00
Revenue BondsUtilities/SewersWaste Water Treatment Facility06-01-2038$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationOtherAnnual payment on principal $115,000.0006-01-2032$990,000.00
General ObligationOtherDowntown Streetscape Project – West Pearl Street & Main Street Made $ 30,000.00 annual payment06-01-2034$980,000.00
Revenue BondsUtilities/SewersMade a $108,000.00 annual payment06-01-2023$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationTransportationStreets06-01-2026$330,000.00
General ObligationTransportationCity Hall Project06-01-2023$305,000.00
General ObligationPublic Buildings/SchoolsCity Hall & Emergency Service Building06-30-2022$21,500.00
General ObligationPublic SafetyFire Truck06-30-2022$15,000.00
General ObligationTransportationStreets06-30-2022$3,500.00
Revenue BondsUtilities/SewersSewer Plant – Bond #206-01-2030$1,757,000.00
Revenue BondsUtilities/SewersSewer Plant – Bond #106-01-2030$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationPublic Buildings/SchoolsCommunity buildings Project- Community Center and Library06-01-2033$332,616.72
General ObligationUtilities/SewersSewer GO Note06-01-2022$108,037.50
Revenue BondsUtilities/SewersSewer Revenue Note06-01-2022$137,039.00
Revenue BondsUtilities/SewersWater Revenue Note06-01-2024$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 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
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 ClassPurpose TypeDescriptionFinal MaturityAmount
Revenue BondsHousing/Urban Dev.TIF Rebate06-01-2022$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationPublic Buildings/Schoolsrenovation of existing buildings05-01-2029$2,690,000.00
Revenue BondsPublic Buildings/Schoolsrenovation of existing buildings07-01-2029$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 ClassPurpose TypeDescriptionFinal MaturityAmount
Revenue BondsPublic Buildings/SchoolsSchool Infrastructure07-01-2027$3,156,001.00
Revenue BondsPublic Buildings/SchoolsSchool Infrastructure07-01-2029$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 ClassPurpose TypeDescriptionFinal MaturityAmount
General ObligationOtherRepresents crossover refunding of bonds dated 12/1/2004 and 5/1/2005 Refund General Obligation05-01-2024$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.

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