The Monroe Tobacco Asset Securitization Corporation (MTASC) is a local development corporation based in Rochester, NY. It was established in 2000 with the purpose of selling tobacco assets previously owned by the County of Monroe. MTASC manages the sale of tobacco settlement revenues and issues bonds to finance the purchase of these assets, with the expectation of receiving annual payments from tobacco companies as part of the master settlement agreement.
Strictly limited to acquiring tobacco assets, issuing bonds, and collecting receipts from tobacco settlement payments, MTASC operates under the management of a Board of Directors, including ex-officio members from the County and appointed members by the County Executive. The corporation's mission is to effectively manage the tobacco assets and fulfill its financial obligations to bondholders through the term of the bonds.
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