by Sabrina Salas Matanane

Guam - The University of Guam has agreed to conduct the independent analysis required under the recently signed bond law.

UOG was given ten days to agree or decline to conduct the study. According to Governor's Chief of Communications Troy Torres, UOG confirmed last night it had the capacity to do the assessment and that it would in fact do the analysis which is a prerequisite before GEDA can move forward on the bond market to secure funding to pay out past due tax refunds and COLA. He adds that UOG had drafted the language for an MOU between them and the Government of Guam which was agreed upon by the bond counsel and the Governor's Chief Policy Advisers. The MOU will go through a round of signatures today and tomorrow for final approval.

The Calvo Administration is hoping UOG can complete the analysis by no later than October 24th, just enough time for bond counsel to review, secure the money and pay out tax refunds by Christmas. We should also note Governor Eddie Calvo signed Bill 1-4-S into law Saturday. The legislation was sent down by Adelup to address technical issues they had with the bond law.