[You are mistaking a real Trust versus the Permanent Fund.]
Why shouldn't I?  A trust created via state constitutional amendment fulfills the same requirements to form a valid trust.
Also, I note how you abandoned your previous argument based upon some "obligation."
[you have the right to fight for an individual cash dividend]
Did you misunderstand the point?  The point was not about an individual cash dividend but about the AK Legislation self-dealing.  Self-dealing does not hinge upon the trustee not paying out some cash but upon paying/benefiting himself.  Self-dealing is violating the fiduciary duty derived from a grant of authority to the trustee over the principal of the trust and the beneficiaries' reliance upon the trustee in such administration rather like the Permanent Fund.  By amendment, we granted the Legislature the authority and rely upon the Legislature to prudently invest and administrate both the principal and the earnings of the PF.