San Diego Considering Tobacco Debt Offering

Saskal, Rick
January 2006
Bond Buyer;1/30/2006, Vol. 355 Issue 32308, p1
Trade Publication
The article reports that tobacco bonds are included in the plans that San Diego, California mayor Jerry Sanders and chief financial officer Jay Goldstone are developing to rebuilt the city's finances and reputation. According to Sanders, they want to establish a new communication pattern and establish credibility with the ratings agencies. The city has about $10 million in annual revenue from the national Master Settlement Agreement with tobacco companies which can be used to help pump up the underfunded pension system.


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