Company: OIA
Filing Date: 2025-02-07
Form Type: N-2/A
Source: 0001104659-25-010545
Chunk: 194

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-02-07
Form: N-2/A
Chunk 194
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 the Commonwealth recorded payments to NMISF of $40 million and $13.57 million, $42 million and $13.98 million, and $44 million and $14.15 million, respectively. However, the enacted Fiscal Year 2025 budget makes no provision for payments to NMISF in Fiscal Year 2025. Debt. As of September 30, 2021, the Commonwealth had $80.6 million in long-term debt outstanding, which represents a net decrease of $4.8 million or 5.6% from the prior year. The expected annual debt service requirements on the Commonwealth’s general obligation bonds are $9.77 million for the fiscal year 2024 and $9.65 million for fiscal year 2025. As of September 30, 2020, CNMI’s total public debt outstanding was about $114.1 million, or about 12 percent of GDP ($938.8 million). This reflects CNMI’s inability to borrow through capital markets in recent years. CNMI has struggled to finance its pension plan. Moreover, its economy continues to decline with limited prospects for recovery as its tourism industry struggles and its largest casino is closed and unlikely to reopen soon. CNMI’s financial management and reporting has also worsened. With CNMI’s limited financial prospects and weak financial management practices persisting, CNMI is at risk of a severe fiscal crisis. Natural Disasters.The Commonwealth underwent two typhoons during the months of September and October 2018. Typhoon Mangkhut destroyed much of the resources for the island of Rota, and Super Typhoon Utu devastated the islands of Tinian and Saipan. The disasters had detrimental effects on the Commonwealth’s economic activity, leaving two main sectors of the economy (tourism and gaming) at a standstill for the first quarter of the 2019 fiscal year. These events had a material adverse effect on the Commonwealth’s finances and may negatively impact the payment of principal and interest, marketability, liquidity, and value of securities issued by the Commonwealth that are held by the Fund. Litigation. The Commonwealth, its officials and employees are named as defendants in legal proceedings that occur in the normal course of governmental operations. Some of these proceedings involve claims for substantial amounts, which if decided against the Commonwealth might require the Commonwealth to make significant future expenditures or substantially impair future revenue sources. Because of the prospective nature of these proceedings, it is not presently possible to predict the ultimate outcome of such proceedings, estimate the potential impact on the