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Special fund to address retirees, bond payments established

A revolving fund account is about to be established once the House of Representatives accepts Senate revisions to a bill that establishes the account to settle the CNMI government obligation to pay minimum annual payments to retirees. After a scuffle with Settlement Fund in 2015,...
Posted On Nov 01 2017 06:00
, By Erwin Encinares

Judge: Weekly $1M payments extend Fund’s horizon

The CNMI government’s weekly payments of $1 million to the Settlement Fund allows the Fund to avoid depleting its investments, thereby extending the Fund’s investment horizon, according to a federal judge. In an order on Tuesday, U.S. District Court for the NMI designated Judge...
Posted On Oct 26 2017 06:01
, By Ferdie De La Torre

Govt paid $942.772K for Judicial building loan in fiscal year 2017

The CNMI government made payments totaling $942,772 for the judicial building loan in fiscal year 2017, leaving an outstanding balance of $3,667,219 as of Sept. 15, 2017, according to Settlement Fund trustee Joyce C. H. Tang. At the same time, the Public School System is now...
Posted On Oct 09 2017 06:06
, By Ferdie De La Torre

Torres: Casino ripple effect brings in other investments

Gov. Ralph DLG Torres downplayed a concern about a lack of diversification in the CNMI’s source of revenue and its reliance on the casino industry, saying the casino itself is producing ripple effects. In an interview on Wednesday, Torres said the casino brings in other...
Posted On Sep 29 2017 06:06
, By Ferdie De La Torre
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