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OSWEGO TOBACCO ASSET SECURITIZATION CORPORATION (OTASC)

The mission of the Oswego Tobacco Asset Securitization Corporation (OTASC) is to acquire, hold, sell, pledge and otherwise manage the rights of Oswego County to receive payments from Tobacco manufacturers under the 2003 Master Settlement Agreement for the benefit of Oswego County and for the public purpose of lessening the burdens of government of Oswego County.

The Oswego Tobacco Asset Securitization Corporation (“TASC” or “Corporation”) is a not- for- profit local development corporation organized under the Not-For-Profit Corporation Law of the State of New York. The Corporation was formed exclusively for the purpose of acquiring from the County of Oswego any and all of the rights, title and interest in Tobacco Settlement Revenues (“TSR”s) of the County under the Master Settlement Agreement (“MSA”) and the Decree and Final Judgment (the “Decree”) with respect to tobacco-related litigation among various settling states and participating tobacco product manufacturers.

The Oswego TASC is legally separate and distinct from Oswego County. The purpose of the Oswego TASC is to collect receipts from the tobacco settlement to service its debt in connection with the issuance of bonds that were made as part of the transaction. Any excess proceeds not required by the Corporation to pay various expenses, debt service or required reserves with respect to the bonds are ultimately turned over to the Oswego County. 

The Oswego Tobacco Asset Securitization Corporation is a NYS Public Authority.

EXTERNAL AUDIT REPORTS
2020 External Audit Report
2018 External Audit Report

BUDGET REPORTS
:
2020 Budget Report  

BOARD MEETING MINUTES:
2020-02-18
2019-02-26
2018-03-22