Showing posts with label borrow. Show all posts
Showing posts with label borrow. Show all posts

Wednesday, July 30, 2008

I'm just saying

The Saipan Tribune is reporting that Gov. Benigno R. Fitial wants to let the Commonwealth Utilities Corporation borrow as much money as it wants.

According to the Tribune, "the executive order includes a clause allowing the plan to be effective immediate upon being approved by one house of the Legislature." Is there another clause suspending Article X, Section 3 of the CNMI Constitution?
Public Debt Authorization. Public debt may not be authorized or incurred without the affirmative vote of two-thirds of the members in each house of the legislature.