https://en.wikipedia.org/wiki/Charging_Bull

Hamilton County municipalities, townships and districts had $2.3 billion dollars of debt outstanding at the end of 2022. That amounts to $6,300 per resident. Carmel entities accounted for $1.05 billion, or $10,300 per resident. The other 8 townships owed $1.26 billion, or $4,800 per resident. The other 91 Indiana counties’ 6.5 million citizens owed $30.5 billion, or $4,700 per resident.

https://gateway.ifionline.org/report_builder/Default3a.aspx?rpttype=afr&rpt=Debt&rptName=Debt&rpt_unit_in=2188&referrer=byunit

https://www.census.gov/quickfacts/fact/table/IN/PST045222

https://www.statista.com/statistics/593209/indiana-state-and-local-government-debt/

https://www.census.gov/quickfacts/fact/table/hamiltoncountyindiana/PST045222

https://www.census.gov/quickfacts/fact/table/carmelcityindiana/PST045222

https://www.munibondadvisor.com/rating.htm#:~:text=There%20are%20three%20major%20rating,all%20municipal%20and%20corporate%20bonds.

Municipalities have significantly less resources and taxing authority than states. Hence their bond ratings are lower. 16 states have AAA ratings, 9 have AA+, 5 AA-, 15 AA and 5 lower ratings.

https://en.wikipedia.org/wiki/List_of_U.S._states_by_credit_rating

Hamilton County earned the top AAA rating.

Fishers and Westfield earned the “high quality” AA+ rating.

Carmel and Noblesville maintain the “high quality” AA rating.

Hamilton County first Indiana county to receive AAA bond rating

S&P lowers Fishers debt rating

https://www.westfield.in.gov/egov/apps/document/center.egov?view=item;id=3741

Click to access B56083.pdf

Carmel retains AA bond rating

https://www.indystar.com/story/news/local/hamilton-county/westfield/2020/09/10/westfield-city-council-pushes-end-reliance-bonds/5709164002/

A lasting impact: How Clay Township parlayed a $55M Central Park bond to fund other projects for nearly 20 years