N.Y.'s $2.3B Tobacco Deal Coming Next Week

Braun, Martin Z.
June 2003
Bond Buyer;6/2/2003, Vol. 344 Issue 31647, p1
Trade Publication
This article reports that New York will sell $2.3 billion in tobacco bonds the beginning of the week of June 9, 2003, half of the $4.2 billion in tobacco debt the Legislature authorized to help finance the state's $92.8 billion budget. Under legislation passed by the state, the state comptroller would have the authority to dip into the general fund if tobacco companies fail to make their payments to cover the bonds.


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