AG asked to force GWA for refund - KUAM.com-KUAM News: On Air. Online. On Demand.

AG asked to force GWA for refund

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by Sabrina Salas Matanane

Guam - Senator Ben Pangelinan is hoping the Attorney General of Guam Lenny Rapadas will put the pressure on the Guam Waterworks Authority to pay the $18 million it owes the General Fund, which in turn, according to the supplemental budget law, will go to pay tax refunds and COLA.  It was around two weeks ago the Public Utilities Commission ordered GWA to make the payment despite the agency's argument that if it were to do so from its recent bond, it would violate the terms of its agreements with investors.

GWA hasn't made the payment just yet, because it is filing a legal challenge to the PUC decision. The agency says it will pay the debt but not from recent bond proceeds but through a separate loan which could mean a rate increase of 4% to 8%.

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