SPECIAL SESSION III: From the Legislative Majority Leader’s Point of View

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Guam – Rules Committee Chair and Majority Leader Senator Rory Respicioissued the following report on today’s Special Session III.

Respicio’s release in FULL below:

September 8, 2011, 4:05 PM
For Immediate Release
SESSION UPDATE
Bond Talks Continue During Third Special Session
(Hagåtña, Guam) – Majority Leader and Rules Committee Chair Senator Rory J. Respicio reports that the 31st Guam Legislature finished day one of the third special session called by I Maga’låhen Guåhan to address Bill No. 1(3-S), which proposes to authorize his originally requested $343 Million bond borrowing provision – the issue which has been the greatest point of contention throughout the past month’s discussions on the government’s budget for Fiscal Year 2012.

When session resumed this afternoon, Appropriations Committee Chair Senator ben pangelinan announced the rules governing the Committee of the
Whole proceedings and then allowed each senator to give opening remarks.

Much of the discussion focused on the government’s ability to repay the $343M bond being requested. Similar to the first presentation the administration provided on the $343M bond borrowing proposal, senators questioned the panel about incomplete portions and inconsistencies in their plan.

Senator Respicio made a motion to recess until 9:00 AM tomorrow, Friday, September 9, 2011, to give time for the administration officials to gather and prepare their data for presentation to the senators.

There being no objections, the Respicio amendment carried.

The Legislature remains in recess until 9:00 AM tomorrow, Friday, September 9, 2011.

The public can tune in on MCV Channel 13 or GUdTV Channel 21