Guam - Following Wednesday's announcement of ratings for the Series 'B' bond, the Calvo Administration is taking the necessary steps to move forward with marketing and selling the bond. The Guam Economic Development Authority presented a resolution during this afternoon's meeting, which included approving a second supplemental indenture, approving the distribution of an official statement and authoring the execution of a bond purchase agreement.

The resolution was voted upon as GEDA prepares to market the bond in San Francisco then pricing it in New York later this month. The board meanwhile presented a resolution on revenue bonds for the financing of Ironwood Lada Senior Village Affordable Multifamily Rental Housing Development worth between $20 million and $30 million.