Land leases for TBAS & Pala Lagoon Swim Center sent to Fono for review
Pago Pago, AMERICAN SAMOA — Governor Lemanun Peleti Mauga has sent to the Fono for review and approval two land lease agreements. One is for the Pala Lagoon Swimming Center and the other is for the Territorial Bank of American Samoa.
The original lease for the Pala Lagoon Swimming Center of nine years, 11 months expired December 31, 2017.
The governor said, “ASG received timely notice from Pala Lagoon of their desire to exercise the option granted in the lease to extend the lease term. Accordingly, the parties have executed an extension amendment which would terminate December 31, 2038.”
Concerning the lease for TBAS, the governor explained that during the departure of the Bank of Hawaii, an agreement was made in principle through a Memorandum of Agreement (MOA) between ASG and TBAS dated May 22, 2018.
“Per the MOA, all property assets received by ASG from the Bank of Hawaii are transferred to the Territorial Bank of American Samoa. This includes the Blunts Point property.”
Governor Lemanu asked that the Fono approve the lease so that “TBAS can continue to serve the people of our territory.”
Resolutions for the two land leases were introduced in the House chamber and are now transferred to the appropriate House committee for review.