MINUTES                                           
                    SENATE FINANCE COMMITTEE                                   
                        12 February 1997                                       
                            8:00 a.m.                                          
                                                                               
                                                                               
  TAPES                                                                        
                                                                               
  SFC-97, #33, Side 1 (000 - 591)                                              
                                                                               
                                                                               
  CALL TO ORDER                                                                
                                                                               
  Senator Randy Phillips,  Chairman, convened  the meeting  at                 
  approximately 8:00 a.m.                                                      
                                                                               
                                                                               
  PRESENT                                                                      
                                                                               
  In  addition to Chairman Phillips, Senators Sharp, Torgerson                 
  and Parnell  were  present when  the meeting  was called  to                 
  order.                                                                       
                                                                               
  ALSO ATTENDING:   Senator Jerry  Ward; Senator Gary  Wilken;                 
  Senator   Loren   Leman;    Representative   John    Davies;                 
  Representative   Eric   Croft;  Representative   Con  Bunde;                 
  Representative  Ben  Grussendorf;  Representative  Jeannette                 
  James;  Representative  Terry  Martin;  Representative  Pete                 
  Kelly;  Richard  J.  Franke,  Chairman  of the  Board,  Yale                 
  Endowment;  Duane M. Johnson,  Portfolio Manager  New Mexico                 
  State Investment  Council; Michael  O'Leary, Executive  Vice                 
  President, Callan  Associates; Grace Burg  Schaible,  Chair,                 
  Board of Trustees, Alaska  Permanent Fund Corporation; Clark                 
  Gruening,   Board   of  Trustees,   Alaska   Permanent  Fund                 
  Corporation; Byron  I. Mallott,  Executive Director,  Alaska                 
  Permanent  Fund  Corporation,  Department  of  Revenue;  Jim                 
  Kelly, Research and Liaison   Officer, Alaska Permanent Fund                 
  Corporation,   Department   of   Revenue;   Wilson   Condon,                 
  Commissioner, Department of  Revenue; Mike Greany, Director,                 
  Division  of Legislative  Finance;  and  aides to  committee                 
  members and other members of the legislature.                                
                                                                               
                                                                               
  SUMMARY INFORMATION                                                          
                                                                               
  A presentation was  conducted by  the ALASKA PERMANENT  FUND                 
  CORPORATION.                                                                 
                                                                               
  The  meeting  was recorded  and  handwritten log  notes were                 
  taken.  A copy of the tape and log notes may be obtained  by                 
  contacting either the Legislative Finance Division, P.O. Box                 
  113200, Juneau, Alaska   99811-3200 (Phone: 907/465-3795) or                 
  the office of the Senate Finance Committee Secretary (Phone:                 
  907/465-2618).                                                               
                                                                               
                                                                               
  ADJOURNMENT                                                                  
                                                                               
  The meeting was adjourned at approximately 9:35 a.m.