N.J.'s Corzine to Drop Appeal on Use Of $150M in Tobacco Debt Proceeds

Cataldo, Adam L.
May 2006
Bond Buyer;5/4/2006, Vol. 356 Issue 32374, p40
Trade Publication
The article reports that New Jersey will drop its appeal of a decision prohibiting the use of 150 million dollars in tobacco bond proceeds to help fund the fiscal 2006 budget. Governor Jon Corzine is opposed to the use of one-shot spending measures. The lawsuit blocked a planned restructuring and refinancing of 2.1 billion of bonds sold by Tobacco Settlement Financing Corp.


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