Senators continue talks about refunding GPA bond - KUAM.com-KUAM News: On Air. Online. On Demand.

Senators continue talks about refunding GPA bond

Posted: Updated:

Lawmakers working overtime this weekend, wrapping up six days of debate on the port authority's $72 million infrastructure improvement bond. That bill finally moving on to the voting file. On Monday, senators moved on to discussions on a bill to refund the power authority's $150 million bond. CCU Chairman Joey Duenas says they're looking at every way to save money, and this could help to avoid raising the base rate, saying, "We are not taking any money out of this deal to do other things. We are also not extending the maturity. So these bonds will be paid off in the same time frame, they don't add any more debt to GPA. All we're talking about at the end of the day is the $416,000, $417,000 in average annual savings."

While the base rate has not been raised since 2013, there have been incremental increases in the LEAC, or fuel surcharge, in response to rising oil prices. GPA will discuss this week another probable LEAC increase in February to make up for an estimated $18 million in under-recovery.

  • NEWS HEADLINESMore>>

  • Joshua Mesa has September trial for receiving ice in the mail

    Joshua Mesa has September trial for receiving ice in the mail

    Busted with receiving drugs in the mail, Joshua John Untalan Mesa will face a federal jury later this year. This case involves a package containing 50-grams of the drug "ICE." If his name sounds familiar, Mesa was the alleged victim in a high-speed chase More >>
    Busted with receiving drugs in the mail, Joshua John Untalan Mesa will face a federal jury later this year. This case involves a package containing 50-grams of the drug "ICE." If his name sounds familiar, Mesa was the alleged victim in a high-speed chase More >>
  • Two lanes opened to cross Merizo bridges

    Two lanes opened to cross Merizo bridges

    If you've taken the roads down south you might have noticed a less bumpy ride. The roads to cross Bile and Pigua Bridge in Merizo are now open with two lanes. The $3.6 million project took 10 years to finish. Governor Eddie Calvo saying there were challenMore >>
    If you've taken the roads down south you might have noticed a less bumpy ride. The roads to cross Bile and Pigua Bridge in Merizo are now open with two lanes. The $3.6 million project took 10 years to finish. Governor Eddie Calvo saying there were challenMore >>
  • Negligent homicide expunged from couple's records for baby's death

    Negligent homicide expunged from couple's records for baby's death

    It's case closed for Shawn Cruz and Victoria Siaotong. The young couple appeared in court today for the last time. According to their attorneys, both successfully completed the conditions of their deferred plea agreements. This prompted the court to folloMore >>
    It's case closed for Shawn Cruz and Victoria Siaotong. The young couple appeared in court today for the last time. According to their attorneys, both successfully completed the conditions of their deferred plea agreements. This prompted the court to folloMore >>
Powered by Frankly