Legislators of Bismarck, North Dakota, and other officials have detailed the investment plan for the newly created Legacy Fund, Bismarck Tribune reports. The money to be invested in the fund will be deposited in it by the beginning of September this year.
The fund, which was approved as part of a voter initiative in 2010, has set aside 30% of oil production and extraction taxes in a separate fund. The day-to-day management of the fund will be handled by the Retirement and Investment Office.
