HERKIMER TOBACCO ASSET SECURITIZATION CORPORATION
109
MARY STREET, SUITE 1310
HERKIMER,
NY 13350
(315)
867-1410
MISSION AND CURRENT ACTIVITIES
The Herkimer
Tobacco Asset Securitization Corporation is a not for profit corporation formed
exclusively for the purpose of acquiring from the County of Herkimer any and
all of the right, title and interest of the County under the MasterSettlement Agreement with respect
to tobacco related litigation among various settling states and participating
manufactures. It is separate and apart
from the County. In lieu of receiving tobacco settlement payments, the corporation
in conjunction with other New York
Counties issued Tobacco Settlement Bonds. The purpose of the corporation is
to collect receipts from the tobacco settlement and service its debt in connection
with the issuance of those bonds. Any
excess proceeds over and above are turned
over to the County of Herkimer.
