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- Those funds that have been given to the State of Arizona and held in perpetual trust, the investment of which is made on behalf of designated beneficiaries. Composed primarily of proceeds from sales of donated land, only interest earned can be deemed expendable by beneficiaries. As the principal investment is to be held in perpetuity, maturities tend to be longer.
Office of the Arizona State Treasurer - Cite This Source - This Definition - Browse Related Terms: bp (Basis Point), Moody's Corporate Ratings, Moody's Investors Service, Moody's Short-term Debt Ratings, Non-endowment Funds, Operating Monies, S&P (Standard and Poor's), yield, Yield Curve, Yield to Maturity