Santa Barbara County, CA March 7, 2000 Election
Smart Voter

Use of the Tobacco Settlement Money

By STEVE Crossland

Candidate for Supervisor; County of Santa Barbara; District 1

This information is provided by the candidate
Santa Barbara County has just won the lottery and the use of that money can secure the lives of all county residents
Santa Barbara County is one of few municipalities which will receive a portion of the infamous tobacco settlement. By County budget, the County is expected to receive $172,000,000 over the next 25 years with the first payment of 6.2 million due this June. I have developed a plan where is use of this money will greatly enhance the lives of all Santa Barbara residents while at the same time securing the County from any economic hardship. Sounds impossible, read on!

The "Crossland Plan" saves and invests the annual payments for the first 5 years. Under this Plan at the five year mark, the fund will have approximately 42 million from which County's budget would then start drawing 10% of the fund for the next 20 years. Over that time, County's budget will be enhanced by some 426 million dollars or an average 21 million dollars per year. In the 25th year County will receive an incredible 45.26 million. Further, there will be over $407,000,000 left in the fund. This money is totally unrestricted and can be used for anything.

The Dream: Imagin no Sales Tax, our roads are repaired, our hospitals are the very best, we have cleaned our streams and our ocean is clean. Every dream is possible if we are not greedy today.

Please call me, I would like to share with you the details of the plan and you can see yourself how real this possibility can be.

This is but one of the several ideas I plan to bring to the debate

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ca/sba Created from information supplied by the candidate: February 9, 2000 07:36
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