City of San Diego/Tobacco Settlement Revenue Funding Corporation
The City of San Diego Tobacco Settlement Revenue Funding Corporation (the Corporation) is a nonprofit public benefit corporation organized by the City of San Diego (the City) to transact business and exercise power to ensure a source of revenue to the City, while eliminating the risk of substantial decline in the amount of payments it is entitled to receive pursuant to the Master Settlement Agreement between 46 states, the District of Columbia, Puerto Rico, Guam and other Territories, and the four largest United States tobacco manufacturers in resolution of cigarette smoking related litigation. The stream of tobacco settlement revenues, in an amount up to $10.1M per year were sold by the City, and purchased by the Corporation via a "true sale". The bonds issued are secured by this revenue stream. Pursuant to the offering documents for such bonds, the City has undertaken responsibility to provide continuing disclosure for the benefit of the owners of the bonds.
CUSIP Number: 797330