CHICAGO — Indiana local governments have a total of $34.4 billion of outstanding debt, with the Marion County Airport Authority, Indianapolis and the city of Carmel topping the list, a new report shows.

Of the $34.4 billion, $18.7 billion is lease-backed debt, nearly all of which represents bonds issued by a building corporation that was created to issue the debt, according to a new report by the state’s Department of Local Government Finance.

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