蜜柚直播

In a 35-page order, Judge Neil Wake said the federal Enabling Act that made 蜜柚直播 (and New Mexico) a state in 1912 and gave it lands to hold in trust for schools allows the state to use only the interest off the money earned. The idea, Wake explained, was to preserve the body of the trust 鈥� and the interest it would earn 鈥� for future generations.

But Wake said Proposition 123, crafted by the governor as a method to settle a lengthy lawsuit over school funding, clearly ran afoul of that federal law.

鈥淣owhere in the history does anyone request or suggest that Congress give unfettered discretion to either state or that it was abdicating its oversight obligations under either state鈥檚 Enabling Act,鈥� the judge wrote.

But Mike Liburdi, the governor鈥檚 attorney, said there is a provision buried in recent federal legislation that not only authorizes future payments from the trust that go into the school-finance formula but effectively ratifies the $344 million in prior payments that Wake said Monday were illegally made.

鈥淲e鈥檙e not terribly worried,鈥� said gubernatorial press aide Daniel Scarpinato.

But Wake isn鈥檛 the first one to raise the question. In fact, state Treasurer Jeff DeWit told lawmakers in 2016 鈥� before the measure went to voters 鈥� that they can鈥檛 do what the governor was proposing.

Proposition 123 was designed to provide an additional $3.5 billion to schools over the next decade, with $2.2 billion of that coming from increasing the amount of money withdrawn annually from the state鈥檚 endowment trust fund.

Central to the issue is the nature of the trust.

The federal government gave 蜜柚直播 10 million acres when it became a state in 1912 with the restriction that it be held for certain beneficiaries, mostly public schools. About 9.2 million acres remain in the trust.

There also is about $4.8 billion in the trust made up of the proceeds from sales and leases of the land.

Legislative budget staffers said at the time that, at current withdrawals, the fund would grow to about $9 billion by 2025. But with the additional funds taken out, the account is projected to be $6.2 billion instead.

What made that significant not only for DeWit but also Michael Pierce, who filed the federal court lawsuit, is their contention that such a radical change can be made only by amending the Enabling Act, something that was not done.

In agreeing with Pierce, Wake said it does not matter that the 蜜柚直播 Education Association, the 蜜柚直播 School Boards Association and the 蜜柚直播 Association of School Business Officials supported Prop. 123.

鈥淭he schools鈥� current incentive to get extra money for their current needs is at odds with the interests of future 蜜柚直播 students,鈥� the judge said.

鈥淐ongress鈥檚 conscious plan to vest all citizens with property rights in the trust was necessary to uphold the trust against collusive violations.鈥�

Liburdi said he believes that Wake, informed of the recent congressional action, will reconsider his ruling.