EXECUTIVE ORDER MJF 00-45

EXECUTIVE ORDER MJF 00-45

Tobacco Settlement Payment Options Task Force

WHEREAS, Executive Order No. MJF 2000-2, signed on January 28, 2000, established the Tobacco Settlement Payment Options Task Force (hereafter "Task Force") to compare the value of an immediate lump sum payment of the state of Louisiana's portion of $246 billion obtained from the settlement of Richard P. Ieyoub v. Philip Morris, Inc., No. 98-6473, Fourteenth Judicial District Court, parish of Calcasieu, and other cases, to the value of annual payments if received as scheduled in the amounts anticipated; analyze the risks involved in the tobacco settlement payment plan; and explore other tobacco settlement payment options that may be in the best interest of the citizens of the state of Louisiana;

WHEREAS, Executive Order No. MJF 2000-31, signed on September 27, 2000, established the deadline for the next meeting of the Task Force and extended its reporting period; and

WHEREAS, it is necessary to amend Executive Order No. MJF 2000-2, as amended by Executive Order No. MJF 2000-31, in order to further extend the reporting period for the Task Force and establish another deadline for its next meeting;

NOW THEREFORE, I, M.J. "MIKE" FOSTER, JR., Governor of the state of Louisiana, by virtue of the authority vested by the Constitution and the laws of the state of Louisiana, do hereby order and direct as follows:

SECTION 1: Subsection 2(D) of Executive Order No. MJF 2000-2, signed on January 28, 2000, is amended to provide as follows:

Submitting to the governor, speaker of the House of Representatives, and the president of the Senate, an updated comprehensive written report on the issues set forth in subsections 2(A), (B), and (C) of this Order by January 31, 2001.

SECTION 2: Section 5 of Executive Order No. MJF 2000-2 is amended to provide as follows:

The Task Force shall hold its next meeting on or before December 18, 2000. Thereafter, it shall meet at regularly scheduled intervals and at the call of one (1) or both of the co-chairs.

SECTION 3: All other sections, subsections, and/or paragraphs of Executive Order No. MJF 2000-2 shall remain in full force and effect.

SECTION 4: Executive Order No. MJF 2000-31, signed on September 27, 2000, is terminated and rescinded.

SECTION 5: This Order is effective upon signature and shall continue in effect until amended, modified, terminated, or rescinded by the governor, or terminated by operation of law.

IN WITNESS WHEREOF, I have set my hand officially and caused to be affixed the Great Seal of Louisiana, at the Capitol, in the city of Baton Rouge, on this 15th day of November, 2000.

M.J. "Mike" Foster, Jr.
Governor

ATTEST BY
THE GOVERNOR
Fox McKeithen
Secretary of State