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Firms offer CPA funding opportunities
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Posted on May 01 2002
A financial group will hold discussion with the Commonwealth Ports Authority to tackle potential funding opportunities for airport and seaport operations in the Northern Marianas.
Guam-based Public Finance Associates and Financial Solutions Group officials scheduled a round table discussion with CPA officials to present a variety of options, which may be useful to the ports authority.
“The purpose of the meeting is to discuss potential funding opportunities and present to CPA officials a variety of options which are useful in the agency’s plan to improve its revenue stream or reduce its current debt service payment obligations,” said FSG Vice President Joe Morcilla.
Morcilla explained that PFA and FSG offer a number of public purpose financing strategies for municipal governments throughout the mainland United States and its territories.
He added that the two financial institutions have recently completed a project for the Department of Defense School System in Guam. “They are available to provide similar type financing programs to the CNMI government,” Morcilla told ports officials.
According to CPA Board Chair Roman S. Palacios, the group will meet with CPA officials at 2pm today.
Palacios said Executive Director Carlos H. Salas have already coordinated the scheduled meeting, which is to be participated in by Board Members Roman Tudela, Tony Camacho, Connie Igisomar, Joe Lifoifoi, Ray Cing and Rex Palacios.
The Board Chair explained that the meeting will be able to give CPA officials a bigger picture of available opportunities that would pave the road for future improvement projects for Northern Marianas airports and seaports.
