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City of Tama debt obligations detailed

January 13, 2018
Toledo Chronicle, Tama News-Herald

State Treasurer Michael Fitzgerald's office released its annual report on the debt owed by virtually all Iowa local and state government operations for the 2017 fiscal year on Jan. 3. While the state total is reported at $15.8 billion, the amounts vary from zero (primarily the smallest of Iowa towns) to $460 million for the City of Des Moines.

The City of Tama has just over a reported $3 million in debt including general obligation (G.O.) and revenue bonds (R.B.).This breaks down to a per resident obligation totaling $1,044 based upon a population of 2,877 residents.

The breakdown is the use, amount and date of final maturity (fm)

Article Photos

G.O.- Parks- recreation- pool bond re-issue $700,000 June, 2024

G.O.- Street improvements, Civic Center roof, water plant improvements $495,000 June, 2021

G. O.- Public safety - fire truck $216,577 June, 2024

G.O.- Industrial related - Iowa Premium - urban renewal tax increment rebate payment $180,000 June, 2018

G.O.- Downtown revitalization $32,836 June, 2018

R.B.- Utilities / sewer- sewer improvements 2015 $833,000 June, 2035

R.B.- Utilities / sewer- Water R.O. new aerolater and building for unit $545,000

It should be noted the report does not include at least some of the costs of the 5th Street truck route project, a portion of compelted in fiscal 2017-18.

The report lists the Tama per-person obligation at 386th out of 725 cities reporting. (The higher the ranking, the more per-person obligation.)

 
 

 

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