District Court of Guam Chief Judge Frances Tydingco Gatewood and a host of Government of Guam officials will be touring the Ordot Dump on Monday. It's part of a hearing on the management turnover and financing plan for the Layon Landfill.
GovGuam and the federal receiver have competing proposals, and Chief Judge Gatewood will decide how and when trash collection will return to local control. There are about $42 million worth of post-closure projects that still need to get done. And of primary concern to Gatewood is how to pay for them. GovGuam's plan is to refinance existing debt and borrow more money.
But federal receiver Gershman, Brickner & Bratton describes GovGuam's plan as speculative, with no guarantee that the refinance will produce the additional capital needed.
The receiver's plan sets aside $4.5 million in annual net income over the next few years to cover the $42 million.
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