in November 1998. All the settlements called for annual payments from the settling cigarette companies to the states. As set forth in the tobacco settlement agreements, the unadjusted base-payment amounts allocated to the states through the settlements are each year subject to a downward volume adjustment (based on declines in the sales of the top-four U.S. cigarette companies: the original participating manufacturers) and to an upward inflation adjustment (equal to 3% or the actual rate of inflation for each year, whichever is highest, compounded) and, in rare situations, other adjustments, before the actual amount owed by the cigarette companies to each state is determined. For information on actual payments to date, see the TFK factsheet, Actual Payments to the States From the Tobacco Settlements at xxxx://xxx.xxxxxxxxxxxxxxx.xxx/research/factsheets/pdf/0365.pdf. As shown below, a significant decline in the base settlement payments to the states from 2003 to 2004 was built into the MSA before it was signed. State 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008-17 2018 On Alabama 38.8 103.6 111.9 134.4 135.6 113.2 113.2 113.2 113.2 121.9 129.4 Alaska 8.2 21.9 23.6 28.4 28.7 23.9 23.9 23.9 23.9 39.1 27.3 Arizona 35.4 94.5 102.0 122.5 123.7 103.2 103.2 103.2 103.2 131.6 118.0 Arkansas 19.9 53.1 57.3 68.8 69.5 58.0 58.0 58.0 58.0 65.6 66.3 California 306.3 818.4 883.7 1,061.1 1,071.1 894.0 894.0 894.0 894.0 956.3 1,021.6 Colorado 32.9 87.9 94.9 114.0 115.0 96.0 96.0 96.0 96.0 118.2 109.7 Connecticut 44.6 119.0 128.5 154.3 155.8 130.0 130.0 130.0 130.0 161.1 148.6 Delaware 9.5 25.4 27.4 32.9 33.2 27.7 27.7 27.7 27.7 34.7 31.7 DC 14.6 38.9 42.0 50.5 50.9 42.5 42.5 42.5 42.5 49.9 48.6 Florida 550.0 343.5 712.1 739.6 822.1 590.3 440.0 440.0 440.0 440.0 440.0 440.0 Georgia 58.9 157.4 169.9 204.0 206.0 171.9 171.9 171.9 171.9 183.4 196.5 Hawaii 14.4 38.6 41.7 50.0 50.5 42.2 42.2 42.2 42.2 63.3 48.2 Idaho 8.7 23.3 25.2 30.2 30.5 25.4 25.4 25.4 25.4 32.4 29.1 Illinois 111.7 298.4 322.2 386.9 390.6 326.0 326.0 326.0 326.0 355.8 372.5 Indiana 49.0 130.8 141.2 169.6 171.2 142.9 142.9 142.9 142.9 168.5 163.3 Iowa 20.9 55.8 60.2 72.3 73.0 60.9 60.9 60.9 60.9 85.5 69.6 Kansas 20.0 53.5 57.7 69.3 70.0 58.4 58.4 58.4 58.4 75.5 66.7 Kentucky 42.3 112.9 121.9 146.4 147.8 123.4 123.4 123.4 123.4 132.3 141.0 Louisiana 54.1 144.6 156.2 187.5 189.3 158.0 158.0 158.0 158.0 183.7 180.5 Maine 18.5 49.3 53.3 64.0 64.6 53.9 53.9 53.9 53.9 66.4 61.6 Maryland 54.3 144.9 156.5 187.9 189.7 158.3 15...
in November 1998 the District issued a revenue bond to the USDA (the “Bond”) in the amount of $1,529,600, amortized over the years 2001 through 2033.
