The government of the Commonwealth of the Northern Marianas plans to float another multimillion dollar bond to settle all pending land compensation claims.
Land compensation cases involve private properties acquired for public purposes, such as road construction, utility easements, wetlands, and other
public infrastructure.
The Secretary of the Department of Public Lands, John S. Del Rosario Jr. says the Department of Finance is studying the possibility of floating $40 million to $60 million next year.
He says there are about 300 landowners still waiting to be compensated for pieces of property taken from them by the government.
Payments may be in the form of cash disbursements or land exchanges, depending on the landowner's preference.
