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