00SENATE JOINT RESOLUTION NO. 30                                                                                          
01 Proposing amendments to the Constitution of the State of Alaska creating a                                              
02 school construction and maintenance fund.                                                                               
03 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  Article IX, sec. 7, Constitution of the State of Alaska, is amended to read:                           
05  SECTION 7. DEDICATED FUNDS.  The proceeds of any state tax or license                                                 
06 shall not be dedicated to any special purpose, except as provided in Sections                                         
07 [SECTION] 15, 17, and 18 of this article or when required by the federal government                                   
08 for state participation in federal programs.  This provision shall not prohibit the                                     
09 continuance of any dedication for special purposes existing upon the date of ratification                               
10 of this section by the people of Alaska.                                                                                
11    * Sec. 2.  Article IX, Constitution of the State of Alaska, is amended by adding a new                               
12 section to read:                                                                                                        
13  SECTION 18. ALASKA SCHOOL CONSTRUCTION AND MAINTENANCE                                                                
14 FUND.  (a)  There is established as a separate fund in the State treasury the Alaska                                    

01 school construction and maintenance fund.  The fund consists of appropriations made                                     
02 by the legislature.  Money in the Alaska school construction and maintenance fund                                       
03 shall be invested in those income producing investments designated by law as eligible                                   
04 for permanent fund investments.  The principal and income of the Alaska school                                          
05 construction and maintenance fund may be appropriated from the fund only as                                             
06 authorized under (b) of this section.                                                                                   
07  (b)  The principal and income of the fund may be appropriated by law for                                              
08 construction, maintenance, or repair of a public school, or for reimbursement of bonds                                  
09 issued for the purpose of construction, maintenance, or repair of a public school.                                      
10    * Sec. 3.  The amendments proposed by this resolution shall be placed before the voters of                           
11 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the                        
12 State of Alaska, and the election laws of the state.