Previous administrations had paid for the excess by using money from the federal government for war claims by the state and money from the state's sinking fund.
The constitution required the state legislature to establish a sinking fund to repay the debt as soon as practicable but within at least 34 years (including interest).
According to the ministry, proceeds of the bond would form part of the sinking fund established by the government to repurchase or redeem specified debts.
Members paid fifty cents a month, or $1 per family. 80% of this paid for health insurance, while the remainder went into a sinking fund to cover members' burial expenses.
