Billion-dollar tobacco bond proposal faces downside risk and an uncertain market

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Billion-dollar tobacco bond proposal faces downside risk and an uncertain market

by Steve Perry
Published: January 29,2009
Time posted: 1:00 am
Tags: Kathy Kardell, Minnesota budget deficit, Tim Pawlenty, Tobacco appropriation bonds

Nearly a billion dollars in projected revenues for the coming biennium are riding on GOP Gov. Tim Pawlenty's proposal to sell off future proceeds from the state of Minnesota's continuing tobacco lawsuit receipts, but the fact sheet on that bonding plan raises more questions than it answers. "These bonds are similar to tobacco securities already ...

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