Illinois Treasurer Suggests Interest-Only Spending Of Settlement
Illinois stands to double its $9 billion share of the tobacco
settlement if they invest the funds wisely, according to state
Treasurer Judy Topinka.
Speaking at a legislative committee,
Topinka recommended investing the $350 million annual payment
and spending only the interest accrued. By her estimate, the
state will have amassed $10 billion over 30 years from the
interest alone.
Source(s):
USA TODAY, (8/18/99) "Illinois", p. A8
[Full Text: http://www.usatoday.com/news/states/ilmain.htm]