GWA still needs to repay General Fund - KUAM.com-KUAM News: On Air. Online. On Demand.

GWA still needs to repay General Fund

Posted: Updated:

by Lannie Walker

Guam - The Guam Waterworks Authority will still have to repay $20 million to the General Fund, but it won't be from its recently secured $118 million bond for capital improvement projects. Administrative Law Judge David Mair ruled that the utility agency had to follow through with local law and reimburse the General Fund with its recent bond.

GWA and the Consolidated Commission on Utilities, however, argued it would violate their bond agreements because the proceeds are strictly to be used for CIPs and petitioned the Public Utilities Commission to reject the ALJ's recommendation. According to CCY chairperson Simon Sanchez, Mair changed his recommendation, which the PUC adopted.

He said, "So he asked the PUC to table his report and recommendation and he recommended that GWA and him get together and so the PUC agreed and they asked that the ALJ and GWA get together to write up a stipulated order in which GWA agrees to borrow the money as required by law and we will go through the process to borrow that money."

GWA will borrow an additional $20 million with repayment to be secured from a 4-8% rate increase.

  • NEWS HEADLINESMore>>

  • Gubernatorial candidates face-off at GRMC healthcare forum

    Gubernatorial candidates face-off at GRMC healthcare forum

    This year's gubernatorial candidates faced off again in another forum, this time sponsored by GRMC. Healthcare was the focus, but the questions also covered a number of other topics. Dennis Rodriguez, Jr. said, "It doesn't matter if this is a private hospMore >>
    This year's gubernatorial candidates faced off again in another forum, this time sponsored by GRMC. Healthcare was the focus, but the questions also covered a number of other topics. Dennis Rodriguez, Jr. said, "It doesn't matter if this is a private hospMore >>
  • 45-year-old charged with stealing food truck

    45-year-old charged with stealing food truck

    A 45 year old man is behind bars charged with stealing a food truck. Anthony Peter Perez said he was only helping his nephew when he was confronted by police. The trailer reportedly belonged to a Mangilao family, but was located in Dededo. The truck is vaMore >>
    A 45 year old man is behind bars charged with stealing a food truck. Anthony Peter Perez said he was only helping his nephew when he was confronted by police. The trailer reportedly belonged to a Mangilao family, but was located in Dededo. The truck is vaMore >>
  • Regional monsoon weather won't directly affect Guam

    Bad regional weather won't directly affect Guam

    Get your umbrellas and rain gear out. A tropical disturbance south of Guam and moving west will leave us wet the rest of the week. National Weather Service Meteorologist Landon Aydlett said, "So the good news is it's not going to directly affect Guam andMore >>
    Get your umbrellas and rain gear out. A tropical disturbance south of Guam and moving west will leave us wet the rest of the week. National Weather Service Meteorologist Landon Aydlett said, "So the good news is it's not going to directly affect Guam and More >>
Powered by Frankly