Kansas Governor Wants to Tap $175M in Tobacco, But Others Sound Alarm

Williamson, Richard
April 2003
Bond Buyer;4/1/2003, Vol. 344 Issue 31605, p48
Trade Publication
Despite a cloud of uncertainty rising over tobacco bonds, Kansas governor Kathleen Sebelius hopes to issue $175 million of revenue bonds against national tobacco settlement funds to help cover a $105 million gap in the fiscal year 2003 budget and leaving $70 million to apply toward the next fiscal year beginning July 1, 2004. Most likely the beneficiary of the deal would be the Kansas Department of Transportation (KDOT). Under the governor's plan, the proceeds from the $175 million bond sale would pay for highway projects and KDOT would then relinquish claim to an equivalent amount of revenue from the general fund.


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