Alabama Trust Fund Not Taking Stand On $437M Vote
The board that oversees the Alabama Trust Fund is not taking a position on whether voters should approve taking more than $437 million out of the fund to help operate state government.
The board chairman, Gov. Robert Bentley, said he did not ask the board to take a position during a meeting Thursday because the board manages the $2.3 billion fund, but it's up to voters to decide the issue in a statewide referendum Sept. 18.
The secretary of the trust fund board, State Treasurer Young Boozer, said he's not taking a public position. Board member Sandra Sims-deGraffenried said she has mixed feelings.
The longtime educator said the board has a duty to protect the fund, but she has sympathy for the financial problems facing state government.
Copyright 2012 The Associated Press.