Missouri Shelves Tobacco Hybrid For Appropriation-Backed Bonds

Shields, Yvette
April 2003
Bond Buyer;4/9/2003, Vol. 344 Issue 31611, p1
Trade Publication
The Missouri Board of Public Buildings will competitively sell $387 million of special obligation bonds— a deal authorized by the General Assembly as a replacement for the state's plan to sell a hybrid version of a tobacco securitization. Nearly $50 million of the proceeds will go to retire temporary notes sold on behalf of the state by the Missouri Tobacco Settlement Financing Authority last year and the remainder will pay for projects over the next few years that the state originally intended to pay for with cash. Missouri's general obligation credit carries triple-A's from three credit rating agencies.


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