Guam - Just days after the Guam Waterworks Authority's $495 million bond authorization bill was signed into law, the Guam Power Authority will now see its bond measure up for a public hearing.
Bill 207 introduced by Senator Tom Ada would authorize GPA bond financing for critical infrastructure improvements. The borrowing will take place in two stages to allow GPA to avoid substantial power rate increases arising from the new debt.
A short-term interim bond will raise $35 million with a second long-term bond will be issued in 2015 for $100 million.
The public hearing is set for Tuesday at 8 in the morning.