FLASHBACK- September 3, 2011

Sept. 3, 1999

CPA falls behind debt service

Battered by the continuous decline in arrivals, the Commonwealth Ports Authority is unable to raise the much needed revenues to meet its debt coverage ratio of 1.25 for the airport and seaport bonds. According to CPA’s financial report, the airport debt coverage ratio is off by 1.05 or approximately $1.3 million from the operating activities to meet the required ratio of 1.25 in the last 10 months of fiscal year 1999. This is translated into a monthly shortfall of $130,000. Actual cash available for debt service as of July 1999 is only $53,834. Interest on the $20 million bond is payable semi-annually at 6.25 percent.

$10M set aside for Rota airport expansion project

The Rota Leadership First Senatorial District has set aside some $10 million of its Capital Improvement Project funds for the extension of the Rota International Airport runway. In a letter sent to Commonwealth Ports Authority Executive Director Carlos H. Salas, Rota Mayor Benjamin T. Manglona expressed hope that either CPA or FAA can match the amount to complete the runway extension project and carry out other improvements at the airport facilities. Since the island’s economy is the number one priority of Rota’s political leaders, Manglona urged Salas to proceed without unnecessary delays the planning on the project.

Sept. 3, 2001

Fitial echoes Senate’s call for Teno’s report

House Speaker Benigno R. Fitial has agreed to the Senate’s suggestion to hold a joint session for Gov. Pedro P. Tenorio’s State of the Commonwealth address and Washington Rep. Juan N. Babauta’s State of the Washington Office report. The hitch is that Fitial wants both speeches in October, and not September as suggested by Senate President Paul A. Manglona. During an interview last night, Fitial said the House of Representatives will hold a session tomorrow, Tuesday, where he plans to call for a joint session of both chambers of the 12th CNMI Legislature for the State of the Commonwealth address and the State of the Washington Office report.

NMIRF: OPA concerns are moot

Crying foul over news reports that it characterized as “unfair,” the Northern Mariana Islands Retirement Fund insists that the concerns raised by the Office of the Public Auditor over the travel expenses of Fund officials has already been addressed by the Fund, “many of them long before the audit took place.” In a statement issued by Fund legal counsel Kathleen Troy-Rucker, she said that several news reports that recently came out about the Fund’s travel expenses-based on an OPA audit report-lacked crucial, yet readily available information, that resulted in a mischaracterization of the NMIRF, its policies and activities.

Sept. 3, 2002

Northern Islands ask for 3 new schools

The Public School System is seriously studying proposals to construct three elementary schools in the Northern Islands. The PSS said the proposal to build grade schools on Alamagan, Agrigan and Pagan was submitted by the Northern Islands’ local government as part of its long-term resettlement plan. Under the Northern Islands Development Plan, there will be an expeditious resettlement of residents of Anatahan, Alamagan, Pagan, and Agrigan and the implementation of the economic development programs and activities to assure that the settlements are safe and sustainable.

’Use CIP monies to pay for land claims’

A joint resolution that asks the U.S. Department of the Interior to allocate CIP funds to settle land compensation claims is now before the House of Representatives for consideration and adoption. The Senate recently adopted Senate Joint Resolution 13-4, which seeks to convince Interior Secretary Gale Norton to allot portions of Covenant 702 funds toward settling land compensation claims of residents whose properties were acquired by the Commonwealth for easement or right-of-way purposes to complete CIP projects. The measure, authored by Senate Floor Leader Joaquin G. Adriano, is separate from the recently enacted House Bill 13-1-now known as Public Law 13-17-which authorizes the Marianas Public Lands Authority and the Commonwealth Development Authority to borrow $40 million to settle land compensation claims against the CNMI government.