$172M bond signing this morning - KUAM.com-KUAM News: On Air. Online. On Demand.

$172M bond signing this morning

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by Krystal Paco

Guam - The Guam Waterworks Authority will be hard at work for the next seven years replacing leaking pipes, improving water pressure, drilling new wells, and upgrading the south's waste water treatment.

This follows the $172 million bond signing held this morning.

CCU chairman Simon Sanchez said, "The most important people in all of this process are the rate payers of Guam. Every month they make the sacrifice to pay their water bill and provide the monies necessary to operate the system, invest in the system, and build the things that we need to build. They own the system. they pay for the system. Tonight we get a $170 million of their money that we're going to invest into the system."

Today's signing was for the first of three bonds totaling up to $495 million slated for GWA over the next four years.

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