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Tobacco Fund Money

By: Associated Press
By: Associated Press

The Joint Budget Committee in Colorado's Legislature today delayed a decision on a proposal to sell some tobacco fund money on the bond market after several lawmakers suggested in a private meeting that the state should try to get a better deal.

The six committee members huddled in a back room near the
hearing room out of earshot of tobacco interest group members who
had gathered to hear the debate.

Lawmakers could not agree on a plan and delayed any decision
until next week. They announced the delay after the private
meeting.

State law requires meetings between lawmakers be public --
except for personnel, contract and security issues.

The state receives money under a 1998 nationwide agreement with
tobacco companies that settled lawsuits. It was worth 206 billion dollars and Colorado's share is roughly two point nine billion dollars.


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