Big Lug Big Bonds

Gov. Chet Culver announced details of his $750 million bonding initiative this morning, with big bucks for transportation, disaster recovery etc.

Covering Iowa Politics (The Gazette’s new site), and The Des Moines Register and Radio Iowa have early takes on “I-Jobs Iowa’s Infrastructure Investment Initiative.”

The Register notes that the bonds would be paid back using $56 million in casino tax proceeds annually for the next 20 years. Interest would add up to $420 million. Backers say taking on debt is the necessary price for creating jobs.

You can find Culver’s official announcement release here.

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