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MYERS v. ALASKA HOUSING FINANCE CORP.

No. S-9941.

68 P.3d 386 (2003)

Eric F. MYERS, a taxpayer and resident of the State of Alaska, both individually and as a representative of other Alaska residents and taxpayers, Appellant, v. ALASKA HOUSING FINANCE CORPORATION; and Northern Tobacco Securitization Corporation, Appellees.

Supreme Court of Alaska.

April 18, 2003.

Attorney(s) appearing for the Case

Peter J. Maassen, Ingaldson Maassen, P.C., Anchorage, and Peter Gruenstein, Gruenstein & Hickey, Anchorage, for Appellants.

Douglas D. Gardner, Assistant Attorney General, Juneau, Joseph H. McKinnon, Assistant Attorney General, Anchorage, Bruce M. Botelho, Attorney General, Juneau, and Robert M. Johnson, Wohlforth, Vassar, Johnson & Brecht, Anchorage, for Appellees.

Before: FABE, Chief Justice, MATTHEWS, EASTAUGH, BRYNER, and CARPENETI, Justices.

OPINION

CARPENETI, Justice.

I. INTRODUCTION

Alaska Constitution article IX, section 7 prohibits the legislature from dedicating future revenues directly to any special purpose. But can the legislature sell the state's right to a future revenue stream that is based on a settlement of a lawsuit and then immediately appropriate the proceeds? We conclude that selling the right to receive future revenue from the tobacco lawsuit settlement involved...

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