Governor signs Layon bond bill

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(PNC photo)

Guam – Governor Lou Leon Guerrero signed Bill 79-35 into law on Monday. The legislation allows the Governor to issue bonds to finance a new cell at the Layon landfill.

Senator Sabina Perez introduced the measure to generate funding by the end of June. The government needs to raise around $30 million via a general-obligation-bond. According to the Guam Solid Waste Authority, customer tipping fees will not increase as a result of the bond borrowing.

Guam Economic Development Authority Administrator Melanie Mendiola told Newstalk K57 listeners that the bond payments are flat, meaning it will not have a bearing on tipping fees.

Mendiola also said that the borrowing would not affect the ability of lawmakers to rollback any BPT increases.