... not only inflation proofing the Fund, but in loading it with extra deposits to speed it's growth (APFC, 2002, p.43). But in actuality, the principal of the Fund is subject to only statutory inflation proofing, leaving the door open for the legislature, current or future, to eliminate the statute and spend all Fund earnings, including those required for dividends, without voter approval. The best solution for preserving the capital wealth for current and future generations of Alaskans is to constitutionally establish the Fund as an endowment for the state, limiting the annual payout from the Fund to a five percent of market value (POMV) averaged over a five-year period. With such an endowment and payout principle, we will be providing constitutional protection against inflation, we will be maximizing the total amount of Fund income which can be paid out in the future, we will be creating the availability of $175-300 ...

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