You want as many investors as possible so the state is less likely to attack the tobacco industry. You want as many non-tobacco industry stakeholders as possible.
And I'd like to thank weak-willed politicians in MN for selling these bonds. Then again, at least they waited until times were bad. A lot of states who did it just so they could balance their budgets when times were good and in turn not pass on the true cost of govt onto their taxpayers + kick the can down the road.
Only buy them if they are backed by the taxpayers of MN.
<Would this be something the tobacco companies could acquire?Would it make sense for MO and others to look into this?>
Minnesota is late to the party...like many states before them they are selling their future rights to MSA payments as a means of yet another finger in the budget dike (give up future cash, take it in today and worry about the loss of future cash later when you may be out of office, in jail or both).
These are usually sold to the "widows and orpans" funds...nice bond yield and lately backed-up by the states if the projected MSA payments go down. As long term investments, I doubt any tobacco company would ever invest in them since they usually demand higher rates of return.