Alaska should invest the budget surpluses it predicts from high oil prices into funds that will be used for future education, transportation, alternative energy, and employee pension costs, Gov. Sarah Palin said Wednesday. The state government’s general fund revenues come largely from oil taxes, which are expected to generate billions of dollars in surpluses because of prices in the range of $90 to $100 per barrel. According to Palin, over the next two years Alaska should: invest $2.6 billion in the education fund for public education in the future; create a $1 billion fund, the earnings of which would be used for future transportation infrastructure; deposit $450 million into the state’s Teachers’ Retirement System, to reduce its unfunded liability; create a $250 million alternative energy fund; and pump $379 million into the state’s constitutional budget reserve, a fund to help the state’s government through lean financial years. Palin will release her operating and capital budget proposals for fiscal 2009 next week.
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The bonds refunded of two earlier series of student fee bonds: the taxable Series Z-2 Build America Bonds, and the tax-exempt Series BB-1 bonds.
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LSEG Lipper reported fund inflows of $447 million while high-yield muni bond funds saw another round of inflows at $246 million, marking the 12th consecutive week of positive flows in that space.
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Hawaii Gov. Josh Green outlined the state's plan to permanently house everyone displaced by the fire — and how he plans to pay for it during a media briefing.
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D.C. promises $515 million in improvements to its existing downtown arena.
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A bond-financed purchase of the Stanley Hotel in Estes Park, Colorado, which served as an inspiration for Stephen King's The Shining, is being pursued by the Colorado Educational and Cultural Facilities Authority.
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In a recently released survey by the Citizens Budget Commission, New Yorkers said they are feeling much less safe, with only 37% rating public safety in their neighborhood as excellent or good, down from 50% in 2017.
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