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>>

  • Accused ATM skimmer didn't understand his rights, says defense

    Accused ATM skimmer didn't understand his rights, says defense

    Of all the Italian speakers on island, defense argues authorities used the wrong one. Public defender Rocky Kingree, in his filing earlier this week, resubmits his argument that his client, Nicola Marinelli, did not fully understand his rights when he repMore >>
    Of all the Italian speakers on island, defense argues authorities used the wrong one. Public defender Rocky Kingree, in his filing earlier this week, resubmits his argument that his client, Nicola Marinelli, did not fully understand his rights when he repMore >>
  • $2M in compact impact funding coming Guam's way

    $2M in compact impact funding coming Guam's way

    Guam will get another $2 million in compact impact funding. In a news release, the U.S. Interior department said the money can be used to help defray the educational impacts of migrants from the freely associated states. Guam and Hawaii were the most heavMore >>
    Guam will get another $2 million in compact impact funding. In a news release, the U.S. Interior department said the money can be used to help defray the educational impacts of migrants from the freely associated states. Guam and Hawaii were the most heavMore >>
  • One step closer to tuition-free trade school education

    One step closer to tuition-free trade school education

    The island is a step closer to tuition-free trade schools and colleges. The administration announced the awarding of a $1 million Department of Interior grant to fund education and training for 193 students on Guam who graduated in 2017 and 2018. The moneMore >>
    The island is a step closer to tuition-free trade schools and colleges. The administration announced the awarding of a $1 million Department of Interior grant to fund education and training for 193 students on Guam who graduated in 2017 and 2018. The moneMore >>
Powered by Frankly