I call it a loan

Posted on May 08 2005

Joeten Enterprises is to be commended for its offer to pay in advance its CUC utilities bill in the amount of $1 million, “CUC seeks advance payment from big customers” (May 4). However, let me give some words of advice to the company. CUC may call it advance payment; I call it a loan.

Regardless of the CUC statutes that say that CUC may “…borrow money from any private or public source…” the constitution provisions govern: “Public indebtedness may not be authorized for operating expenses of the Commonwealth government or its political subdivisions.”

I have a lot of reservations also about Mobil Oil line of credit, if there is one.

Froilan C. Tenorio
Former governor

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