“It needs the approval of the Legislature,” Santos said.
MPLT has to wait for legislative approval before it can release the money.
“Until and unless the Legislature approves the loan, MPLT can’t approve it,” he added.
Sen. Maria T. Pangelinan, D-Saipan, said they will study CUC’s MPLT loan proposal.
Rep. Victor B. Hocog, Ind.-Rota and chairman of the House Committee on Public Utilities, Transportation and Communications, said they will also review CUC’s plan to use $2.7 million of the $4.5 million MPLT loan to purchase fuel.
Hocog does not support the idea.
CUC Executive Director Antonio S. Muna on Tuesday said MPLT would lend CUC $4.5 million so the utilities agency could make an initial payment to Aggreko International Projects Ltd.
CUC signed a $6 million deal with the U.K.-based power firm on June 19 to provide Saipan temporary power generation services.
Muna said a 7 percent interest rate is attached to the MPLT loan which, he added, requires legislative approval.
