MEMORANDUM

TO: Pete Sprague, Assembly President

Members, Kenai Peninsula Borough Assembly

FROM: Betty Glick, Assembly Member

DATE: April 24, 2003

SUBJECT: Resolution 2003-054 supporting House Joint Resolution 3

This resolution would demonstrate the assembly's support for House Joint Resolution 3, which proposes amendments to the state constitution affecting the Alaska Permanent Fund. As the amendments are to the state constitution, the voters must approve them before they may take effect. The voters demonstrated enormous interest in the permanent fund in the 1999 special election when about 84 percent of the Kenai Peninsula Borough voters opposed a proposition to use the permanent fund to balance the state budget. It is appropriate that the voters be given an opportunity to address other significant proposals, such as this, that concern the permanent fund.