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 commission also made changes to planned Louisiana State gas and fuel tax bonds of up to $1 billion
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High-yield muni issuance totals $20 billion year-to-date, "reflecting normalization from relatively depressed levels in 2023 ($7.6 billion over the comparable period), and now virtually equal to the trailing five-year average for the period ($20.1 billion)," said J.P. Morgan strategists, led by Peter DeGroot.
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Mayor Eric Adams was indicted on federal bribery, campaign finance and conspiracy charges, the U.S. Attorney's Office announced Thursday.
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The privately placed taxable bonds to be issued through Bernalillo County will help finance a manufacturing facility for Ebon Solar.
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"The market is strong right now, and we expect that to continue into next year," Loop's head of public finance Bo Daniels said.
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The continuing resolution to keep the government funded was passed without the inclusion of controversial legislation requiring proof of citizenship in order to vote.
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