The Chemung Tobacco Asset Securitization Corporation (CTASC) is a local development corporation organized pursuant to Section 1411 of the Not-For-Profit Corporation Law of the State of New York. It was created for the special purpose of the sale of tobacco assets by the County. The CTASC is legally separate from the County of Chemung, New York (the County); however it is a blended component unit of the County and accordingly is included in the County’s financial statements. 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.
Christopher Moss, President
Audit and Finance Committee Members
Dr. Richard Terry
Chemung Tobacco Asset Securitization Corporation
The Sole Member and the Board of Directors of the Chemung Tobacco Asset Securitization Corporation (the “CTASC”) will be conducting its annual meeting at 9:30 a.m. on February 24, 2020 at 203 Lake Street, 2nd Floor, Elmira, New York 14901. This meeting is the Annual Meeting. This notice is given in order to comply with the Open Meetings Law.