Gov. Chet Culver’s Condition of the State speech this morning called for the state to work together to continue the efforts to rebuild from Iowa’s natural disasters this past year and to balance the budget.

Among Culver’s biggest proposals is the creation of a Rebuild Iowa Infrastructure Authority, which would use up to $700 million in bonds over the next few years to update Iowa’s infrastructure, including roads, bridges, rail and telecommunications.

“This is the first time in our state’s history that we have earned a triple-A bond rating and I intend to use it,” Culver said, noting that the program would help create jobs at a time when the unemployment rate nationwide is rising.

Culver also asked the Legislature to allow $43 million in the state’s cash reserves to go toward continued rebuilding efforts, which would be on top of the $1.5 billion in state, federal and private aid already committed. He asked that the Legislature address the 12 key areas of concern the Rebuild Iowa Advisory Commission noted in its most recent report as well.

In terms of balancing the budget, Culver noted that some progress had been made to balance the current budget, with $130 million in cuts, but asked the Legislature in its upcoming budget to deappropriate $37 million for a new state building, approve the transfer of $10 million in accounts and funds Culver has requested and exclude correctional officers and troopers from budget cuts. He also asked that investments made so far in areas including the Iowa Power Fund, education and health care be protected.

Despite these challenges this year, Culver said that Iowa is poised to emerge from the economic crisis in a strong position, with companies such as Aviva USA, Microsoft Corp. and wind-energy equipment manufacturers coming to the state.

“2009 will be a year of challenges,” Culver concluded, “some as great as our country and state have ever faced, and today I’ve asked you, the members of the Legislature, to make some really tough decisions. These are difficult days, but in Iowa, we don’t run away from challenges. We tackle them head on.”