{"id":11347,"date":"2017-12-11T15:10:00","date_gmt":"2017-12-11T15:10:00","guid":{"rendered":"https:\/\/portstrategy.nfdtesting.uk\/greenport\/2017\/12\/11\/guam-authority-considers-726m-borrowing\/"},"modified":"2017-12-11T15:10:00","modified_gmt":"2017-12-11T15:10:00","slug":"guam-authority-considers-726m-borrowing","status":"publish","type":"post","link":"https:\/\/www.portstrategy.com\/greenport\/news\/asia\/guam-authority-considers-726m-borrowing\/","title":{"rendered":"Guam Authority considers $72.6m borrowing"},"content":{"rendered":"

According to The Guam Daily Post<\/em>, Senator in the Guam Legislature and author of the legislation Frank Aguon Jr. stated in a press release that proceeds from the bond, if the legislation passes, will deliver the essential upgrades to critical infrastructure at the port.<\/p>\n

These upgrades include the replacement of the Port Authority’s administration building, the relocation of waterlines, repairs to Warehouse 1, the rehabilitation of Hotel Wharf and the access road, the repair of Golf Pier and equipment maintenance.<\/p>\n

Guam Senators supported the passage of Bill 157-34, the legislation allowing the bond to be borrowed, with 11 bipartisan votes, with only Mr Calvo\u2019s signature now required to make it final.<\/p>\n

Mr Aguon described the port authority\u2019s borrowing plan as \u201can essential component of our economic sustainability and the island’s supply chain\u201d, adding that the Port Authority of Guam is \u201cvital to our island community and local businesses.<\/p>\n

\u201cThis bill provides the necessary funding to address the critical needs of Guam’s only port.\u201d<\/p>\n

Proceeds from the bond are planned to be repaid through fees to shippers and other port users, which are passed on to goods and services for customers.<\/p>\n

Amendments made on session floor capped the bond measure from $70m to $72.6m, with an annual interest rate of 6.5%.<\/p>\n

The Guam Public Utilities Commission gave the green light to the agency’s five-year tariff request, and new rates took effect on June 1.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0The Port Authority of Guam could soon borrow a $72.6m bond to fund infrastructure upgrades at the Port of Guam if territory Governor Eddie Calvo signs the bill permitting it to do so.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69],"tags":[],"sponsor":[],"class_list":["post-11347","post","type-post","status-publish","format-standard","hentry","category-asia"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/11347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/comments?post=11347"}],"version-history":[{"count":0,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/11347\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/media?parent=11347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/categories?post=11347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/tags?post=11347"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/sponsor?post=11347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}