Funding IP Allocations

On Sun, 4 May 1997, Jim Fleming wrote:

> When you receive that information, I think that
> you will see that there are plans underway to
> make use of the Internet Intellectual Infrastructure
> Fund [1] which now has plenty of money.
> 
> [1] @@@@ http://rs.internic.net/announcements/iif-update.html
> 
> ...through March 31, 1997, $20,560,000.00 has been deposited into the account.

Cute...is there some reason a small chunk of this money can't be used to
get ARIN started up and financially stable so registration fees can start
out at a reasonable level rather than start high and eventually
(supposedly) get lower?  Starting a new business guaranteed to at least
break even in year 1 is a nice idea...I'd certainly like to do it...but
it's usually unreasonable.  There's money here that can be used to
subsidize ARIN until registration fees keep ARIN in the black.

This page states:
During the period September 14, 1995 through December 31, 1996, there have
been no disbursements from the account.

What happened since December?  Did some of the money already go somewhere?
Where?

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