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South Tama schools long-term debt limited to building cost

3rd in Series NEXT: Tama County

January 22, 2018
By John Speer - Editor ( , Toledo Chronicle, Tama News-Herald

Debt for the South Tama School District is entirely for building construction according to the annual Iowa Debt Report issued by the office of State Treasurer Michael Fitzgerald.

As the report reflects, the elementary school constructed in 2006 and the high school addition and remodeling completed last year now total $10.5 million in money owed by the district.

The breakdown is: general obligation bonds- $4,210,000 and revenue bonds- $6,310,000.

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Source: State Treasurer's Office

South Tama County CSD's per capita debt of $6,722.04 is ranked 145th out of 285 reporting according to the treasurer's office report. (The higher the number, the more debt.)

The treasurer's report noted "All political subdivisions of the state are required to report outstanding long-term obligations to the state treasurer annually. These obligations include bonds, notes, capital leases and loans. The information reported is presented here to help Iowans better understand the financial obligations of their local and state governments. All data is reported by the political subdivision who owes the obligation."



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