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Sovereign Wealth Funds Briefing - Categorized | Financials

Albertville gets more than $477,000 from Alabama Trust Fund

Posted on 24 April 2013

The city of Albertville has an additional $477,918.48 in its coffers, the City Council announced Monday at its work session. City Clerk/Treasurer Phyllis Webb told the council it had received a check for that amount from the Alabama Trust Fund.

The Alabama Trust Fund is a wealth fund established in 1985 in response to a major offshore natural gas discovery in 1978. The fund is funded by royalty payments that are received each month from oil and gas companies. Its assets total about $2.5 billion………………………………………..Full Article: Source


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