"It will cost $2.3 billion to $2.5 billion per year to repay the bonds. Although bond proceeds will go into the general fund, the state could not repay the bond from the general fund for legal, political and financial reasons.

Instead, the bonds will be repaid with a three-way shift of revenues dubbed the "triple flip." Here's how it will work:

http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2003/08/10/BU224339.DTL&type=business