DALLAS – Louisiana’s planned refunding of $823.1 million of tax-exempt tobacco settlement bonds should be structured for long-term savings rather than a one-time cash payoff, Treasurer John N. Kennedy said Thursday.

The Louisiana Tobacco Settlement Financing Corp. is slated to meet Monday afternoon to select underwriters for the refunding. Corporation trustees, including Kennedy and Commissioner of Administration Kristy Nichols, met last week in a closed session to interview potential underwriters.

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