Public
Public Institution
noun, の adjective
It's public establishment. It is public.
This is a jukugo word, which usually means on'yomi readings from the kanji. If you know the readings of your kanji you'll know how to read this as well.
来年度から、公設の委員会を設けることになりました。
Starting next year we will establish a public committee.
確かあの公園に公設の便所があったはずだよ。
If I remember correctly, I think there is a public restroom in that park.
もし沖縄を旅行するなら、牧志公設市場に行った方がいいよ。
If you travel to Okinawa, you should go to Makishi Public Market.