Gregg County names tobacco fund trustee
From Staff Reports
Feb. 20, 2012 at 10 p.m.
Gregg County Commissioners on Monday appointed Harvey McClendon of Kilgore to the board overseeing expenditures of the county's share of funds from the state's court settlement with tobacco companies in the 1990s.
The $2.7 million settlement fund distributes annual grants to local projects and groups associated with tobacco-related health care.
Grants are made out of interest on the fund's investments. As much as $100,000 has been distributed in past years, but $20,000 is earmarked for grants this year after lower interest rates drew an estimated $12,000 in earned interest.
County Judge Bill Stoudt added that fewer entities applied for grants this year.