The total debt (minus Southport, Center Township and Lawrence) at the end of 2010 was $6,777,164,786. That amounts to $7500 per man, woman, and child in our County.
Below is a breakdown of the data by taxing unit. I combined the City and County with debt for the Capital Improvement Board (CIB) and Health & Hospitals as there were bonds that were attributed to each whose purpose was for another and it would leave a wrong impression to separate them out. For instance, there were bonds whose purpose was listed as Wishard, but some being the responsibility of the County and other of H&H. Also, water company bonds are included in that combined category (I found bonds totalling about $818 million that referenced 'water utility' or 'water system'; I'm not sure which bonds and debt will be taken over by Citizens Energy as part of the sale of the water and sewer utilities).
| Taxing Unit | Debt Dec 31, 2010 |
| City, County, CIB, H&H | $3,363,009,346 |
| IMCPL (Library) | 100,345,000 |
| IndyGo | 29,890,000 |
| Airport | 1,204,805,000 |
| MSD Decatur Township | 159,641,968 |
| Franklin Tnsp Comm School Corp | 247,941,361 |
| MSD Lawrence Township | 211,025,794 |
| MSD Perry Township | 145,727,199 |
| MSD Pike Township | 64,185,000 |
| MSD Washington Township | 78,714,000 |
| MSD Wayne Township | 283,699,131 |
| Beech Grove City School Corp | 50,110,205 |
| IPS | 721,382,739 |
| Speedway City School Corp | no debt listed |
| Center Township | not reporting |
| Decatur Township | 2,093,938 |
| Franklin Township | 1,193,525 |
| Lawrence Township | 2,000,000 |
| Perry Township | no debt listed |
| Pike Township | no debt listed |
| Warren Township | no debt |
| Washington Township | no debt |
| Wayne Township | 152,282 |
| Speedway City Civil Town | 74,451,630 |
| Homecroft Civil Town | no debt listed |
| Rocky Ripple Civil Town | no debt listed |
| Southport | not reporting |
| Spring Hill Civil Town | no debt listed |
| Tri-County Conservancy Dist (serves Heartland Crossing | 11,495,000 |
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7 comments:
Nice work HEI, one comment how does the debt load of the city total compare to the allowable debt limit (percentage) of assessed valuation in the Indiana Constitution?
Now Jon, that's funny !
Really, folks are going to think we are in cahoots.
The constitutional limit goes taxing unit by taxing unit. Some are over, some are under.
You'll have to wait for a unit by unit analysis. The City-County gets really complex, so give me a bit to pull all of it together.
But, most folks can guess the outcome for many of the taxing units.
And, again, thanks for the laugh. Constitutional debt limit? Huh!
Wasn't there a court decision that allowed the individual taxing units the ability to be considered a seperate entity rather than part of the city, county etc.? With that one piece of flawed logic the amount of debt load has grown exponentially.
Much like our federal goverment our expenses far exceed our revenues, one day all of these shell games will collapse. When that happens none of us will be laughing.
July 16, 2011 5:49 PM
Just like the federal government, the state and local governments are running a debt-based Ponzi scheme. Guess who loses in this Ponzi scheme - one hint - it's not the elected officials.
The $818 million in debt seems a bit light (over $900 million or over seems more likely) for the water company debt. The rate payer (not Citizen Gas) will be liable for the billion dollar and above debt, that will eventually run up the bills for both water and gas. Just another hidden tax thanks to the inept management of the Water Comapny by the city.
What's $100 million among friends! Did I say friends, more like thiefs!
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