State Treasurer Michael Fitzgerald says the amount of bond debt owed by governments in Iowa increased by four-point-four percent this year, a number he says is reasonable. He says it’s a small increase compared to last year’s eight-percent increase.Fitzgerald says the outstanding obligations for state and local governments totaled five-and-a-half billion dollars at the end of the fiscal year June 30th. He says a good economy has led to the increase in debt as governments are undertaking more building projects.Fitzgerald says county governments saw the biggest increase in debt with a nearly eight-point-seven percent increase, mainly due to the building of new jails. Debts owed by cities increased four-point-eight percent and debt owed by schools increased three-point-three percent. Fitzgerald says Iowa doesn’t owe much when compared to other states.Fitzgerald says Iowa’s overall debt has increased by 19-percent over the last five years.
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