Logan's bonds and notes fell from $102.9 million to $83.0 million between fiscal 2021 and 2025

Logan's annual financial reports show principal outstanding on bonds, notes and leases of $102,943,675 at June 30, 2021 and $82,959,316 at June 30, 2025. In the fiscal 2021 report the total is $102,517,000 in revenue bonds and $426,675 in notes. ^[1][2]

Reported totals for the years between: $98,211,755 in fiscal 2022, $92,910,702 in fiscal 2023 and $87,964,067 in fiscal 2024. In each of those reports the revenue bonds are all in business-type activities, and the 2022 report lists governmental bonds at $0. ^[3][4][5]

At June 30, 2025, revenue bonds payable were $82,341,000, notes payable $267,989 and leases and subscription arrangements $350,327. The fiscal 2024 report says Moody's rates the city's underlying general obligation bonds Aa2. ^[2][5]

The sewer plant, 2020

The fiscal 2020 report says the city's total bonded debt increased by $53,430,000 that year and lists $84,787,293 in principal outstanding on bonds and notes. At a May 2020 workshop, Finance Director Richard Anderson said the city was building a $150 million sewer treatment plant. ^[6][7]

New authorizations, 2025

On Jan. 7, 2025, the council approved parameters for water and sewer revenue bonds of up to $60 million, at a maximum 6% interest and a 31-year term. On March 18, 2025, it appropriated $10 million from water reserves and approved up to $40 million in bonds for the First Dam water tank and lines project. ^[8][9]

The fiscal 2026 adopted budget lists $40,000,000 of debt issuance under 2025 estimated. In August 2026 the council previewed carrying forward $46,749,137 for the water tank and waterline. ^[10][11]

The notes listing each bond issue, and the legal debt margin, were not retrievable for this review. ^[2]