Legislature(1995 - 1996)

1996-10-16 Senate Journal

Full Journal pdf

1996-10-16                     Senate Journal                      Page 4390
SB 89                                                                        
Message of June 14 was received, stating:                                      
Dear President Pearce:                                                         
Under the authority of art. II, sec. 15 of the Alaska Constitution, I          
have vetoed the following bill:                                                
HOUSE CS FOR CS FOR SENATE BILL NO.                                           
An Act relating to the members of the board and                               
staff of the Alaska Permanent Fund Corporation.                                
I have taken this action out of a strongly held belief that the trustees       
of the Alaska Permanent Fund Corporation must be answerable to                 
Alaskans for the decisions they make in managing over $18 billion              
of public money.  This bill, among other things, would change                  
existing law by making trustees removable only for very specific               
causes.  Under existing law, the board serves at the pleasure of the           
governor and must answer to the governor for management decisions.             
The governor, in turn, must answer to the voters for the governors             
stewardship of the Alaska Permanent Fund.  It is in this very basic            
way that the Alaska Permanent Fund Corporation will remain                     
responsive to the will of the people.                                          
						Tony Knowles