Railsplitter Tobacco Settlement Authority

Board and Commission Details

Contact Name

Alexis Sturm

Contact Title

Director, Office of Management and Budget

Function

The powers of the Authority shall be subject to the terms, conditions, and limitations contained within this Act, and any applicable covenants or agreements of the Authority in any indenture or other agreement relating to any then outstanding bonds or related bond facilities. The Authority may enter into contracts regarding any matter connected with any corporate purpose within the objects and purposes of this Act. The Authority shall have power and is hereby authorized to issue bonds, in an amount no greater than $1,750,000,000, to provide sufficient funds for the purchase of all or a portion of the tobacco settlement revenues pursuant to Section 3-3 of this Act and the payment or provision for financing costs.

Term

The Authority and its corporate existence shall continue until 6 months after all its liabilities have been met or otherwise discharged.

Senate Confirmation

No

Party Affiliation

N/A

Compensation

Expenses

Composition

The Authority shall be governed by a 3-member board consisting of the Budget Director and two other members appointed by the Governor.

Chair

Elected by the Members

Authority

30 ILCS 171/3‑4


Member Names

Name Member Expiration Member Since Affiliation Appointed By Position Title County
Sturm, Alexis Statute Member Director of the Governor's Office of Management and Budget
Weber, Elizabeth 11/27/2017 Governor Member Cook
O'Connell, Bill 11/21/2017 Governor Member Cook