TOPEKA, Kan. (AP) — A major U.S. bank has given a presentation to Kansas finance officials on securitizing the state’s future tobacco settlement money.

The presentation by Citigroup has raised concerns among child advocates who say selling the future settlement payments to raise cash for the budget deficit would hurt the state’s early childhood system.

A copy of the 26-page Citigroup presentation, provided to The Topeka Capital-Journal by Kansas Action for Children, said Citigroup, “pioneered the tobacco bond market” and shows which states have securitized.

Brownback spokeswoman Eileen Hawley on Thursday said the meeting with Citigroup last October was attended by officials with the Kansas Development Finance Authority and Brownback’s budget director. She says there’s no deal or pending legislation to sell tobacco settlement money.

TOPEKA, Kan. (AP) — An investment banking company has briefed Kansas officials on its expertise in tobacco settlement payments as child advocates say the state is pursuing a future sale to help close the budget deficit.

The Topeka (Kan.) Capital-Journal reports that Kansas Action for Children alleged during a Tuesday hearing that Gov. Sam Brownback’s administration was contemplating selling future tobacco settlement payments to generate more than $400 million in one-time cash.

Administration officials say there’s no deal but that discussions have taken place.

The nonprofit group provided a copy of the 26-page presentation Citigroup Inc. gave in October, highlighting the benefits of using the company to securitize. The document says that bond proceeds have been used for capital projects, endowments, pension funding and working capital.