Local governments bump up debt
A new treasurer’s report shows that Iowa’s state and local governments added $462 million in debt in the 2017 budget year, a gain of 3 percent. The state Board of Regents debt dropped slightly, as did that of state agencies. City governments’ debt rose to $5.8 billion from $5.6 billion in 2016. Counties’ debt rose to $914 million from $912 million, and school districts’ combined debt rose to $3.7 billion from $3.6 billion. Many local governments have been addressing delayed maintenance and infrastructure needs such as streets, bridges and sewers.
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