‘MPLT funds’ interest can help govt programs’

Marianas Public Land Trust board member Pedro R. Deleon Guerrero said the interest earned on the money they receive from public land leases could also be a funding source for the CNMI government. MPLT’s main function is managing the money it gets from public land leases. The fund is in a trust fund.

Deleon Guerrero said the MPLT is mandated by the CNMI Constitution to remit the interest earned by the trust fund to the Commonwealth government’s general revenue.

“The Constitution is clear. The interest earned shall be remitted with all revenues of the government,” said Deleon Guerrero. “The money will then be appropriated by the Legislature to [departments or programs like] the Public School System, the Department of Public Safety, and other essential services and programs.”

A portion of Subsection D, Article XI, Section VI of the CNMI Constitution states: “The trustees shall transfer to the general revenues of the Commonwealth the remaining interest accrued on the trust proceeds except that the trustees may retain the amount necessary to meet reasonable expenses of administration.”

Another MPLT purpose is to hold and invest the proceeds from leases and other transfers of public land. “We are not violating any laws since people of Northern Marianas descent would directly benefit from it. But there must be a program that should be put together.”

Deleon Guerrero said he would discuss with other MPLT board members, trustees, consultants, and the Legislature on how to discuss some of their concerns.

“There were concerns that were raised and we’re going to look at it. The Constitution is clear that the MPLT’s funding should not be used for obligations of the [CNMI] government. It is not their revenue,” added Deleon Guerrero.

“There’s a possibility the funds can be taken out, but it’s very restrictive. [Only] to be used for essential and beneficial programs that would greatly benefit [NMDs]. The CNMI Constitution states public land belongs to [NMDs].”

The money collected from public land leases shall be placed in a trust fund, with MPLT having the money management function.

Gov. Ralph DLG Torres re-appointed Deleon Guerrero, who was also a former chair of the MPLT board. The Senate has already confirmed Deleon Guerrero.

Deleon Guerrero was also a House speaker during the 7th NMI Legislature.