Schuyler Tobacco Asset Securitization Corp.
The Schuyler Tobacco Asset Securitization Corporation is a not for profit corporation formed exclusively for the purpose of acquiring from the County of Schuyler any and all of the right, title and interest of the County under the Master Settlement 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 Schuyler.
Mission Statement - Relieve and reduce unemployment, promote and provide for additional and maximum employment, better and maintain job opportunities, and lessen the burden of government and act in the public
interest.
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