GBB makes $1.5M payment to GovGuam - KUAM.com-KUAM News: On Air. Online. On Demand.

GBB makes $1.5M payment to GovGuam

by Sabrina Salas Matanane

Guam - The Government of Guam got a $1.5 million cash infusion today. It's part of money federal receiver Gershman, Brickner & Bratton owes the public sector as part of the 2009 bond to pay for the construction of the Layon landfill. A part of that agreement requires GBB through tipping fee collections to repay GovGuam for using Section 30 monies to pay the debt service on the landfill.

While the payment is typically a half-million monthly, the $1.5 million paid today accounts for payments due last December, January and February. GovGuam will receive $500,000 for the next nine months and $12 million annually for the next 23 years. 

The money can used for local government operations.

  • NEWS HEADLINESMore>>

  • Crash on Agat-Umatac Road sends motorcyclist to hospital

    Crash on Agat-Umatac Road sends motorcyclist to hospital

    A man is rushed the hospital after a serious motorcycle crash along Agat/Umatac road Sunday afternoon. GFD spokesperson Kevin Reilly says it happened around 2:47 pm by the water reservoir. Medics performed CPR, as they rushed him to Naval Hospital. His coMore >>
    A man is rushed the hospital after a serious motorcycle crash along Agat/Umatac road Sunday afternoon. GFD spokesperson Kevin Reilly says it happened around 2:47 pm by the water reservoir. Medics performed CPR, as they rushed him to Naval Hospital. His coMore >>
  • Hormel issues recall after metal objects found inside canned products

    Hormel issues recall after metal objects found inside canned products

    Consumers may want to double check before opening another can of Spam. Hormel Food Corporation, based in Fremont, Nebraska, is recalling more than 228 thousand pounds of canned pork and chicken products they say could be contaminated with pieces of metal.More >>
    Consumers may want to double check before opening another can of Spam. Hormel Food Corporation, based in Fremont, Nebraska, is recalling more than 228 thousand pounds of canned pork and chicken products they say could be contaminated with pieces of metal.More >>
  • Islanders feel 4.9 earthquake

    Islanders feel 4.9 earthquake

    At 10:21 a.m. on Sunday, The U.S. Geological Survey recorded an earthquake with a preliminary magnitude of 4.9 that struck 54 km ESE of Inarajan village, with a depth of 35.5 km.There were no reports made to Guam E911 dispatch of damages or injuries from the earthquake.

    More >>

    At 1021 a.m. on Sunday, The U.S. Geological Survey recorded an earthquake with a preliminary magnitude of 4.9 that struck 54 km ESE of Inarajan village, with a depth of 35.5 km.There were no reports made to Guam E911 dispatch of damages or injuries from the earthquake.

    More >>
Powered by Frankly