The account that holds and invests money from the sale of Arizona trust land has topped $4 billion for the first time ever.
State Treasurer Doug Ducey says total assets in the state's Permanent Land Endowment Trust Fund exceeded the $4 billion mark at the end of February.
The fund gets it cash from the sale of some of the 10 million-plus acres of land granted to Arizona at statehood in 1910 and the treasurer invests the money. Sixty percent is invested in stocks and the rest in high-grade corporate bonds and U.S. Treasury notes.
More than 90 percent of the earnings from the fund are distributed to state's K-12 schools. In the budget year that begins on July 1, nearly $68 million will go to those schools.
Copyright 2013 Associated Press. All rights reserved.
Wednesday, May 22 2013 6:33 PM EDT2013-05-22 22:33:42 GMT
A Lufkin woman was struck and killed by lightning during last night's storms.Around 10:30 p.m., a 32-year-old I-HOP employee was standing in the parking lot holding an umbrella when lightning struck her,More >>
A Lufkin woman was struck and killed by lightning during last night's storms.More >>
Wednesday, May 22 2013 2:30 PM EDT2013-05-22 18:30:34 GMT
ORLANDO, FL (RNN) – A man with possible ties to a Boston Marathon bombing suspect was shot and killed after the FBI interviewed him early Wednesday. The FBI confirmed a special agent fatally shot a manMore >>
A news release from the FBI Boston division stated the shooting took place early Wednesday when Ibragim Todashev, the shooting victim, started a "violent confrontation."More >>
Wednesday, May 22 2013 2:56 PM EDT2013-05-22 18:56:54 GMT
(RNN) – Of the 24 killed in the EF-5 tornado that decimated Moore, OK, 10 are children - two of which are infants according to a release by the Oklahoma City Medical Examiner's Office. All the childrenMore >>
Six people are still unaccounted for in Moore, OK. Ten children, which includes two infants, were killed by the EF-5 tornado, according to the Oklahoma City Medical Examiner's Office.More >>
Wednesday, May 22 2013 6:21 PM EDT2013-05-22 22:21:12 GMT
(RNN) - British officials are saying one man is dead and two others were injured in a possible terrorist attack in London on Wednesday.According to BBC News, eyewitnesses said man was attacked in a streetMore >>
One man is dead after two men attacked him in broad daylight with knives and meat cleavers. More >>