In a novel financing plan described as "having your cake and eating it too," Louisiana State Treasurer Ken Duncan has developed a plan to securitize the state's share of tobacco settlement money on a piecemeal basis rather than all at once.

Using an initiative Duncan has called the Louisiana Investment For Tomorrow (LIFT), the state will price one securitization per year in the amount of $100 million over the next 25 years. The borrowings will be repaid from investment returns on the tobacco funds.

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