Hotel Occupancy Tax Bond approved - KUAM.com-KUAM News: On Air. Online. On Demand.

Hotel Occupancy Tax Bond approved

Posted: Updated:

by Lannie Walker

Guam - The Guam Economic Development Authority's board of directors unanimously approved the sale of the 2011 Hotel Occupancy Tax Bond today. Administrator Karl Pangelinan says the bond is separated into three components: the retirement of the 1997 general obligations bond, the building of the Guam Museum, and project enhancement to attract visitors to the island.

He told KUAM News, "We go out to the bond market essentially with our underwriters and we price this out to the market there's a few things working against us and that's why timing is of the essences. The supply market now and the municipal bond market is volatile, so timing is key."

GEDA is scheduled to leave the end of this month to secure the more than $90 million bond.

  • NEWS HEADLINESMore>>

  • GCC, telecoms spearhead STEM program at Tiyan High

    GCC, telecoms spearhead STEM program at Tiyan High

    It's an effort to teach tech skills to our island's youth to start up Silicon Village. The Guam Community College, joined by island business leaders in Telecommunications, and the Guam Chamber of Commerce, launched GCC's newest Career and Technical EducatMore >>
    It's an effort to teach tech skills to our island's youth to start up Silicon Village. The Guam Community College, joined by island business leaders in Telecommunications, and the Guam Chamber of Commerce, launched GCC's newest Career and Technical EducatMore >>
  • Elderly man accused of molesting teen

    Elderly man accused of molesting teen

    A 77-year-old is behind bars accused of molesting a teen girl known to him. Doroteo Quintanilla Castro is charged with three counts of fourth degree criminal sexual conduct as a misdemeanor. Court documents detail the alleged incidents of him exposing himMore >>
    A 77-year-old is behind bars accused of molesting a teen girl known to him. Doroteo Quintanilla Castro is charged with three counts of fourth degree criminal sexual conduct as a misdemeanor. Court documents detail the alleged incidents of him exposing himMore >>
  • Archbishop addresses nearly 200 clergy sex abuse lawsuits

    Archbishop addresses nearly 200 clergy sex abuse lawsuits

    "We bear responsibility. We are culpable" - these words from Guam's Archbishop Michael Byrnes in his Message to the People of Christ. Last week, parties in the nearly 200 clergy sexual abuse lawsuits participated in mediation talks, but did not reach a glMore >>
    "We bear responsibility. We are culpable" - these words from Guam's Archbishop Michael Byrnes in his Message to the People of Christ. Last week, parties in the nearly 200 clergy sexual abuse lawsuits participated in mediation talks, but did not reach a glMore >>
Powered by Frankly