{"id":153798,"date":"2011-07-26T21:40:00","date_gmt":"2011-07-26T21:40:00","guid":{"rendered":"http:\/\/bcf7c3be-1dfb-11e4-aedf-250bc8c9958e"},"modified":"2011-07-26T21:40:00","modified_gmt":"2011-07-26T21:40:00","slug":"bcf7c3d2-1dfb-11e4-aedf-250bc8c9958e","status":"publish","type":"post","link":"https:\/\/www.saipantribune.com\/index.php\/bcf7c3d2-1dfb-11e4-aedf-250bc8c9958e\/","title":{"rendered":"Bill seeks to require CPUC to OK CUC loan above $500K"},"content":{"rendered":"<p>Rep. Stanley M. Torres (Ind-Saipan) has introduced a bill in the House requiring the Commonwealth Public Utilities Corp. to approve loans made by the Commonwealth Utilities Corp. in excess of $500,000.<\/p>\n<p>Currently CUC can only secure a loan of more than $500,000 if approved by law, House Bill 17-205 states that in lieu of that provision, CPUC should be the approving body through the amendment.<\/p>\n<p>\u201cSince this provision was enacted, it has empowered the CPUC to regulate CUC. The Legislature finds that approval by law now rests in the hands of the CPUC, which has oversight over CUC borrowing,\u201d the bill noted.<\/p>\n<p>It added that the CPUC is the proper body to consider CUC\u2019s financial position and analyze the terms of any loan available to CUC. <\/p>\n<p>\u201cIn addition, the Legislature believes that CUC must be enabled to conduct its business without multiple reviews, and a review by both the CPUC and the Legislature would be duplicative and could damage CUC\u2019s ability to move forward expeditiously with any loan for which might qualify,\u201d Torres\u2019 bill stated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rep. Stanley M. Torres (Ind-Saipan) has introduced a bill in the House requiring the Commonwealth Public Utilities Corp. to approve loans made by the Commonwealth Utilities Corp. in excess of $500,000.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-153798","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/153798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=153798"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/153798\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=153798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=153798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=153798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}