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Central government, CHCC making regular payments to MPLT

THE Commonwealth central government has been making regular payments for the $15 million it borrowed from the Marianas Public Land Trust in 2019 for the extraordinary expenses incurred during Super Typhoon Yutu recovery, according to official documents obtained by Variety. The Commonwealth Healthcare Corp., for its part, is also paying its $3 million line of credit provided by MPLT in 2012 at an interest rate of 5%. Initially, CHCC paid the monthly interest only, but in 2018, it started making monthly payments of $53,000 for the principal and interest. It still owes MPLT $1,561,041.03. MPLT’s loan prevented the closure of some of CHCC’s services and allowed the hospital to pay its doctors and nurses.

2 ex-governors, vice speaker grateful to MPLT for saving government | News

FORMER Governors Benigno R. Fitial and Juan N. Babauta, and Vice Speaker Blas Jonathan Attao said they are grateful to the Marianas Public Land Trust for providing loans to critical government agencies. In separate interviews, Fitial and Babauta said they join MPLT in its objection to Senate Legislative Initiative 22-5, which proposes to give the governor and the Legislature oversight and appropriation powers over MPLT. It was during Fitial s administration when the Commonwealth Utilities Corp. received a $3.5 million loan from MPLT to acquire power supply from Aggreko. Fitial said there were “power outages after power outages” in the CNMI at the time, necessitating the acquisition of power from Aggreko.

MPLT says Senate legislative initiative unsupported by facts

UNSUPPORTED by facts and history. This is how the Marianas Public Land Trust described Senate Legislative Initiative 22-5, which proposes to give the governor and the Legislature oversight and appropriation powers over MPLT. Authored by Senate Vice President Justo Quitugua, S.L.I. 22-5 would “require MPLT and its board of trustees to exercise transparency and accountability as a Commonwealth government entity, to provide for reasonable expenses of administration by law, and to require the annual operating budget of the trust to be approved and appropriated by the Legislature.” S.L.I. 22-5 states that “the governor and the Legislature must have oversight powers over MPLT in order to ensure that the trustees actions are made consistent with their fiduciary duties and in the best interest of the Commonwealth and the people.”

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