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Monday, April 21, 2014

Buckingham admits power deal provides for $190.8M payment

Former attorney general Edward T. Buckingham has admitted that the controversial power purchase agreement he and Gov. Benigno R. Fitial signed provides for a payment of $190,827,300.

Buckingham, through counsel assistant attorney general Charles E. Brasington, said a document purporting to be a “Power Purchase Agreement” was signed on Aug. 3, 2012.

Buckingham submitted last Jan. 29 in Superior Court his answer to the second amended complaint filed by the Senate and Rep. Janet U. Maratita (IR-Saipan) and then representative and now Sen. Ray A. Yumul (IR-Saipan).

The Senate, Maratita, and Yumul are suing Fitial, Buckingham, the Commonwealth Utilities Corp., and Saipan Development LLC over an alleged illegal $190.8-million power purchase agreement deal.

In Buckingham’s answer, Brasington denied the plaintiffs’ allegations that CUC officials were not aware of the power purchase deal.

The former AG also admitted that that a document purporting to be a Power Plant Development and Management Agreement was signed on March 27, 2012, and that it was for a term of 40 years.

Buckingham admitted that that the Power Plant Development and Management Agreement contains provisions claiming that the document may not be terminated without cause or without the mutual written consent and approval of the parties.

Buckingham also admitted the Power Plant Development and Management Agreement claims that the law governing the agreement is the law of the State of Delaware.

Buckingham also admitted that the “Option to Lease Agreement” was signed on Aug. 3, 2012.

The plaintiffs want the court to declare the 25-year power purchase agreement “unconstitutional, illegal, unconscionable, and unjust, and therefore, cancelled.”

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