by Nick Delgado

Guam - The Guam Economic Development Authority is confident the University of Guam can complete the independent analysis as required under the recently signed bond law. The independent analysis is a prerequisite before GEDA can move forward on the bond market to secure funding to pay out past due tax refunds and COLA.

Acting deputy administrator Christina Garcia tells KUAM News that the agency met with UOG this past week and they appear close to finishing their draft of the independent analysis. She adds no concerns have been raised by either party and is confident UOG will meet the October 24 deadline and finalize their report.

The Calvo Administration hoped UOG could complete the analysis by Monday with just enough time for the bond counsel to review, secure the money and pay out tax refunds by Christmas.