On September 25, 2006 the below resolution was voted on.

The vote was three to three. Mayor Steve Thompson could have broken the tie but he was silent so it failed. We think it might be brought up again at an upcoming Fairbanks City Council Meeting.

We urge other cities, boroughs and municipalities to introduce and pass similar resolutions and the state to change current state law.

The text is shown here, if you would like this in PDF format, please click here.

Sponsopred by: Councilmember Lloyd Hilling
Date: September 25, 2006

RESOLUTION NO. 4238

A RESOLUTION RECOMMENDING AMENDMENT OF STATE LAW TO REQUIRE LEGISLATIVE CONFiRMATION OF ALASKA PERMANENT FUND TRUSTEES

WHEREAS, Alaska statutes 37.13.050 provides that the Alaska Permanent Fund Corporation is overseen by a six person Board of Trustees with four public members appointed by the Governor without legislative confirmation; the non-public members are the Commissioner of Revenue and one other head of a principal department of state government; and

WHEREAS, the Alaska Permanent Fund constitutes an extraordinary substantial Investment with a current market value that exceeds $30 Billion; and

WHEREAS, it is the duty of the State of Alaska to take extraordinary measures to protect tile integrity of the Fund; and

WHEREAS, legislative approval of appointees wouJd provide closer scrutiny of appointees because citizens have far closer' ties and contact with legislators than with the governor, and therefore have far greater ability to communicate objections they might have to appointees.

NOW! THEREFORE BE IT RESOLVED, that the City Council of the City of Fairbanks recommends amendment of state statues to provide that the governor's appointments to the Board of Trustees of the Alaska Permanent Fund Corporation be subject to simple majority confirmation by both the Alaska House of Representatives and the Alaska Senate.

Passed and Approved this 25th day of September, 2006

STEVE N. THOMPSON, MAYOR

Vote Count 3-3

FOR: Eberhart, Cleworth, Hilling

AGAINST:Thies, Seeliger, Brown

Resolution Failed due to a tie vote.

The text is shown here, if you would like this in PDF format, please click here.