Kendall, here's the history:

"Just as a wise and prudent family sets aside money in a savings account for the future, so should Alaska's state government set aside a rainy day fund to benefit this and future generations of Alaska," the Alaska State Chamber of Commerce said in the state voter pamphlet in 1976, making the case for the amendment's passage.

"Now is the time to ask ourselves the question: 'When the oil and gas is depleted, where will the funds to feed our giant government come from?' The answer is: the Permanent Fund."

https://www.adn.com/commentary/article/alaskans-opted-save-not-pay-dividends-1976-permanent-fund-vote/2015/09/21/