Rep. David M. Apatang, R-Saipan, said part of the debt could also be used to finance classroom renovation projects on various campuses.
Apatang said Saipan Southern High School, Kagman High School, Hopwood Jr. High School, Rota High School and Tinian Jr./Sr. High School are in need of gymnasiums based on the findings of the Public School System’s updated seven-year capital improvement projects plan.
PSS, however, does not have the funding to construct the projects even if the federal government would fund half of it.
Apatang said a $20 million public debt is a practical solution to this problem.
He had since introduced House Joint Resolution 16-11 which seeks to authorize PSS, on behalf of the CNMI government, to borrow the money.
He said the debt should not have an interest rate greater than 5.5 percent per annum and should be paid within 15 years.
“The public debt authorized herein shall be backed by the full faith and credit of the commonwealth government and shall be a debt of the commonwealth,” H.J.R. 16-11 reads.
The CNMI Constitution requires the affirmative vote of two-thirds of the members of both houses of the Legislature to authorize public debt.
Public school students will return to their classes in September.
