Guam – Governor Eddie Calvo signed the bond indenture documents this morning during a signing ceremony at Adelup.
His signature set the stage for tonight’s midnight wire transfer of $215-million dollars into a Bank of Guam account, just in time to be release to island taxpayers who will start cashing their refund checks tomorrow.
At the signing ceremony this morning, the Governor gathered island mayors and lawmakers around him. He thanked them for their support of his campaign for the tax refund bond. .
The Governor said “We do believe ….we’re going to right a wrong,” adding that “it is the right thing to do…both morally and financially.”
But the Governor also called for continued support for the series “B” bond that GEDA is gearing up to offer in the 1st Quarter of next year.
That second issue will be a more than $100-million dollar offering that will be needed to cover the tax refunds for 2011.