Guam Waterworks Authority signs $143M bond issue - KUAM.com-KUAM News: On Air. Online. On Demand.

Guam Waterworks Authority signs $143M bond issue

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The Guam Waterworks Authority and members of the Consolidated Commission on Utilities participated in a bond signing ceremony this morning. $143M dollars in new bonds were issued to fund a major court ordered overhaul of the island's water and wastewater systems. Ratepayers will be footing the bill through staggered increases over the next several years.

Just minutes before the signing ceremony, acting Governor Ray Tenorio asked the CCU to remember the poor. "We're at a point in our society, where the utilities agencies need to consider that increasing costs will sever struggling residents from being able to have water and power service. A home without water or power service is just a concrete cave. A society, where a great number of homes without water or power service is not a healthy society," he stated.

Tenorio is calling on the Consolidated Commission on Utilities to engage in public discussion on future proposals for rate increases, and its overall plans with the power system as well.

GWA's total outstanding bond debt is now more than $500 million.

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