(Des Moines)– State Treasurer Michael Fitzgerald reports outstanding debt obligations for state and local governments in Iowa totaled 10.3 billion dollars as of June 30th, 2007. It represents an overall increase of nearly nine percent from last year.
The report is based on information provided annually to the state by all political subdivisions and state agencies.
Fitzgerald says cities continued to show the greatest amount of outstanding obligations at 38 percent…or four billion dollars of outstanding debt. He says most of that was in the form of general obligation bonds.
Schools posted the second highest amount of outstanding debt with an increase of nearly 10 percent over last year. Fitzgerald says most of that was for construction of new buildings.
The largest increase in debt with an increase of slightly more than 19 percent over last year was by counties. Eight counties, including Dickinson, issued 77 percent of those obligations.
The report can be seen in its entirety on the web at www.treasurer.state.ia./us
