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n GOVERNMENT The Alaska legislature’s sale of its right to receive future tobacco settlement funds and appropriation for school projects did not violate the anti-dedication clause of the Alaska Constitution, which prohibits the current legislature from directing future funds for specific projects, the Alaska Supreme Court held on April 18. Myers v. Alaska Housing Finance Corp., No. S-9941. Alaska sold its right to receive future tobacco settlement funds for a present-value lump sum and specifically dedicated those funds for school improvement projects. Although the state Supreme Court held that the anti-dedication clause applied generally to tobacco settlement revenue, it also held that converting the right to receive future revenue to a present-value lump sum enabled the legislature to appropriate those funds for current projects. The lawsuit settlement was a state asset that the legislature was entitled to manage to control risk, the high court said.

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