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

GBB makes $1.5M payment to GovGuam

Posted: Updated:

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>>

  • GovGuam must pay back illegally diverted E911 funds

    GovGuam must pay back illegally diverted E911 funds

    The Public Utilities Commission has concluded an investigation confirming that nearly $4 million was illegally diverted from the Emergency 911 fund in the past six years. In a meeting Thursday it ordered that the government pay all that money back, or facMore >>
    The Public Utilities Commission has concluded an investigation confirming that nearly $4 million was illegally diverted from the Emergency 911 fund in the past six years. In a meeting Thursday it ordered that the government pay all that money back, or facMore >>
  • Moylan differs on CLTC, Ancestral Lands split with Land Management

    Moylan differs on CLTC, Ancestral Lands split with Land Management

    Could the governor's first executive order result in more spending for the Government of Guam? One senator is sharing his concerns to Gov. Lou Leon Guerrero's executive order that separates the Chamorro Land Trust Commission and the Guam Ancestral Lands CMore >>
    Could the governor's first executive order result in more spending for the Government of Guam? One senator is sharing his concerns to Gov. Lou Leon Guerrero's executive order that separates the Chamorro Land Trust Commission and the Guam Ancestral Lands CMore >>
  • Public assistance benefits will be issued early

    Public assistance benefits being issues early

    If you are a SNAP recipient, your February benefits are being issued early as a result of the prolonged federal shutdown. Benefits will be deposited into EBT cards around January 20. The Department of Public Health and Social Service does advise that thisMore >>
    If you are a SNAP recipient, your February benefits are being issued early as a result of the prolonged federal shutdown. Benefits will be deposited into EBT cards around January 20. The Department of Public Health and Social Service does advise that thisMore >>
Powered by Frankly