State debt falls to $1.7 billion

2012-10-17T14:10:00Z 2012-10-17T20:22:08Z State debt falls to $1.7 billionBy Dan Carden dan.carden@nwi.com, (317) 637-9078 nwitimes.com
October 17, 2012 2:10 pm  • 

INDIANAPOLIS | Gov. Mitch Daniels held a ceremonial mortgage burning outside the Statehouse Wednesday to celebrate early payment of $147 million of long-term state debt.

The payment, partially funded by refinancing the remaining debt, eliminated mortgages on several prisons and the state government office buildings and parking garages in Indianapolis.

Since 2005, the state debt has fallen to $1.7 billion from $3.6 billion. The Republican governor said Indiana has the third lowest state debt per person.

Not included in that figure is the $1.8 billion Indiana still owes the federal government for loans used to pay unemployment benefits since 2008.

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