The Senate Budget and Appropriations Committee is not moving on administration bills which earmark funds to repay the 2018 bond series until the government submits an appropriations bill for spending of the $50 million in bond proceeds.
Committee Chairman Senator Magalei Logovii made this clear in remarks during today’s Senate session.
There are two administration bills for repayment of the 2018 bond series.
One bill increases the petroleum storage fee by two cents a gallon, and the other earmarks 25% of the miscellaneous excise tax on imports for repayment of the ASEDA 2018 bonds.
Magalei’s comments came in response to questions from Senator Satele Galu Satele on the status of the new Fono building project, which is one of the projects funded with the bond proceeds.
Magalei stated that a letter was sent to the administration expressing the will of senators that a money bill should be submitted first before these revenues measures are approved.
He pointed out that $15 million from the 2018 Bond Series is allocated for the Fono building and once the legislature approves the use of the bond money, this will lock in and bar the executive branch from using this money for any other purposes.
As for the status of the new Fono building project Magalei said it was his understanding that off island companies will be arriving next month to begin driving piles for the building.
