Legacy fund?



Lapper

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Why does Legacy get a whole fund for themselves? What about Bismarck High or even Century?
 

Rowdie

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Why does Legacy get a whole fund for themselves? What about Bismarck High or even Century?

Because they're WOKE; Don't you know that?

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It’ll forever be untapped.

I guess I would like to see how much this out of state investment Co is charging in fees, and know where $ is invested.
 

measure-it

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If you look back to the original set-up and purpose of the Legacy Fund, you'll see that it's purpose and destination IS to fuel the betterment and heritage of North Dakota, it's lands, and it's people! What the hell is this China, Russia, and other foreign counties bullshit? Come on politicians: get off your lazy asses, and do your work...you were elected by the ND people...FOR the ND people!
 


Allen

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I guess I don't necessarily view this from a simple ND first kind of deal. The Legacy fund, first and foremost, is supposed to bring a financial reward back to the residents of ND, if it can be done with in-state companies and projects, that's great. But given how recessions and other poor economic conditions are often geographically defined, investing all of the $8 billion into ND would probably be riskier than any of us would do with our own retirement plans.

That being said, since the State Investment Board tends to favor pretty conservative returns on its investments, I am not sure we don't have the expertise in State to largely manage it, all while dedicating a fair amount (20-50%) to ND based companies and projects.

Nonetheless, I am not very excited about it investing in anything Chinese.
 

eyexer

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You know the people voted to start this fund so it appears two things will have to happen. We will need an initiated measure to end it and then one to dictate exactly what the funds have to be used for. Or maybe we need to visit how it’s done in Alaska and give some of the money back to the residents every year. On possible thing would be to eliminate property taxes and replace that same amount each year with the heritage fund money.
 

sweeney

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If you have been a resident of nd for your entire life you get a check, if you are an import or claimed other state residency your out, true nd heritage #$%^&>
 

Ericb

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With the largest state run bank I don't see how the Legacey fund could not be used in some form to invest in local business and make a return. Yes putting a 100% would be risky but setting a portion to invest local should have been a plan all along.

It seems fitting and I wish I had a little more detail, but I was speaking with a friend's wife this evening about a petition. It is to create a grand jury process for state matters. Seems it would be very helpful for things like this Legacey fund issue. I asked for somthing I could cut and paste to share as that would be much more helpful then my own words. Hopefully I can share soon.
 


Allen

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... maybe we need to visit how it’s done in Alaska and give some of the money back to the residents every year. On possible thing would be to eliminate property taxes and replace that same amount each year with the heritage fund money.

50%, or probably more of that money has come from your coworker, friend, or neighbor. I am pretty sure they would rather punch you in the face than give you the money they paid into the State. Alaska is a very different animal.
 

eyexer

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50%, or probably more of that money has come from your coworker, friend, or neighbor. I am pretty sure they would rather punch you in the face than give you the money they paid into the State. Alaska is a very different animal.
I have no problem giving it back to the people they took it from then. If the state isn’t going to use they shouldn’t be taking it. But we can certainly force them to use what money came from state land
 

Rowdie

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I wanna know what the "FEES" are being charged to invest it!
 


LBrandt

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If you put a paper trail on it I bet who ever is running it can be traced back to a high ranking politician in ND>:;:huh
 

Reprobait

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The more I see of it the more I have come to believe that the legacy fund was a mistake. It is just a huge pot of money that has enabled reckless spending by the legislature.

Does anyone really think that the amusement pork at Jamestown or the Roosevelt library are going to be worthwhile attractions? We are also preparing to throw a lot of $$$ at carbon capture that is completely unproven at any kind of scale.
 


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