Branstad Rapid Response: Culver bonded for $1.7 billion – AND WE CAN PROVE IT
FOR IMMEDIATE RELEASE: Thursday, October 7, 2010
Contact: Tim Albrecht (515) 491-2722
Branstad Rapid Response: Culver bonded for $1.7 billion – AND WE CAN PROVE IT
(CEDAR RAPIDS) – The Governor Branstad released the following cites to prove that Gov. Culver has, in fact, bonded for $1.7 billion:
To finance the I-Jobs Program, the state borrowed a total of $875 million with a total repayment cost of $1.667 billion. The bonds will be not be repaid until 2033. The repayment will be $55 million annually, with the funds coming from gaming taxes (RIIF).
These four links cite the Legislative Services Agency’s Notes on Bills and Amendments (NOBAs) which enact the I-JOBS legislation:
Sources: http://www.legis.state.ia.us/lsadocs/Fiscal_Topics/2011/FTMAT005.PDF
For more information on tonight’s debate visit www.governorbranstad2010.com/debate
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Read more at Branstad for Governor
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