At a 20-year reunion in 1976 of delegates to the Alaska Constitutional Convention, Katherine Nordale asked one of the convention's key advisers, John Bebout, what he thought of the plan to create the Alaska Permanent Fund that year.
She said she was shocked to hear him say, "You are establishing a fourth branch of government."
She later wrote Rep. Clark Gruening, a key legislator who helped create the rules for the new fund, to warn him against allowing the enterprise to exercise too much control over the state.
"Unless it is managed very carefully and vigilant scrutiny is exercised every step of the way, the people of Alaska may reap little benefit, but millionaires may be created to the detriment of the general welfare of Alaska," she wrote Gruening.
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