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You are establishing a fourth branch of government.

John Bebout, adviser to the Alaska Constitutional Convention, on the Alaska Permanent Fund, a constitutionally established fund that manages the state's oil revenues through a state-owned corporation.

John Bebout, adviser to the Alaska Constitutional Convention, on the Alaska Permanent Fund, a constitutionally established fund that manages the state's oil revenues through a state-owned corporation.

Daniel Luzer is GOVERNING's news editor.