We report detection with the Spitzer Space Telescope of cool dust surrounding solar type stars . The observations were performed as part of the Legacy Science Program , “ Formation and Evolution of Planetary Systems ” ( FEPS ) . From the overall FEPS sample ( Meyer et al . 2006 ) of 328 stars having ages \sim 0.003-3 Gyr we have selected sources with 70 \mu m flux densities indicating excess in their spectral energy distributions above expected photospheric emission . Six strong excess sources are likely primordial circumstellar disks , remnants of the star formation process . Another 25 sources having \geq 3 \sigma excesses are associated with dusty debris disks , generated by collisions within planetesimal belts that are possibly stirred by existing planets . We draw attention to six additional sources with \geq 2 \sigma excesses which require confirmation as debris disks . In our analysis , most ( > 80 % ) of the debris disks identified via 70 \mu m excesses have \geq 3 \sigma excesses at 33 \mu m as well , while only a minority ( < 40 % ) have \geq 3 \sigma excesses at 24 \mu m . The rising spectral energy distributions towards - and perhaps beyond - 70 \mu m imply dust temperatures T _ { dust } < 45-85 K for debris in equilibrium with the stellar radiation field . We infer bulk properties such as characteristic temperature , location , fractional luminosity , and mass of the dust from fitted single temperature blackbody models . For > 1/3 of the debris sources we find that multiple temperature components are suggested , implying a spatial distribution of dust extending over many tens of AU . Because the disks are dominated by collisional processes , the parent body ( planetesimal ) belts may be extended as well . Preliminary assessment of the statistics of cold debris around sun-like stars shows that \sim 10 % of FEPS targets with masses between 0.6 and 1.8 M _ { \odot } and ages between 30 Myr and 3 Gyr exhibit 70 \mu m emission in excess of the expected photospheric flux density . We find that fractional excess amplitudes appear higher for younger stars and that there may be a trend in 70 \mu m excess frequency with stellar mass .