The problems with this plan are two fold; (1) to sell the bonds now while the market is at an all time high and bond prices at multi decade lows, the risks to both the state and the buyers are extreme; resulting in a perfect storm of extraordinary risk; and (2) I would expect the knowledgeable bond buyers to require a PF guarantee of repayment as the current situation of the state revenues are headed toward a cliff as oil production dries up regarding oil revenues. Someone should talk to Senator Stevens about bad timing of financial transactions.