Selling local-government debt to investors

One thing I'd like to highlight from this story about the proposed monetization of GEFA loans:

It’s not clear how much the companies and other buyers stand to gain over the life of the deal, but it could be as much as $275 million over the $300 million they’d have to pay in cash up front, figures from the governor’s office suggest.

That's based on the fact that the GEFA Board has OK'd the sale of up to $575 million in outstanding debt. The governor's office has estimated revenue from the eventual sales at a little less than $300 million.