Governor Signs COLA Bill; Notes That’ll Be Issued Will Ease Cash Crunch

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Guam – Governor Eddie Baza Calvo has signed into law the measure paying the remaining COLA class debt.

Governor Calvo told COLA class recipients during today’s signing of Public Law 30-239: “I’m honored to do this so there will be peace, peace for all of you who have been waiting so long.”

Senator Ben Pangelinan is the author of this law. This payment through promissory notes alleviates a heavy burden off the current cash liabilities of the government.

“I want to thank Chairman Pangelinan for sticking with you and fighting for you,” Governor Calvo told the COLA class. “We continue our commitment to ensure this longstanding obligation to you, who built this government to what it is today. We are having some difficult financial times, but we need to take care of the most needy first.”