Guam – The formal bond documents were signed Thursday, closing the sale of $247 million dollars in revenue bonds for the Guam International Airport Authority. Now the work begins.
The bond sale has allowed the airport to save about $8-million dollars by re-financing its old debt at a lower interest rate and it also makes available an additional $110-million for capital improvements.
At a news conference Thursday at the airport, Governor Eddie Calvo said the funding marks the start of a period of construction at the airport which, in the months ahead, will create new jobs and bring in more tax revenues.
But most importantly he said it will transform the airport into a regional leader and help support our most important industry, tourism.
The Governor had to call a Special Session to get the bond authorization bill passed. The bond issue was sold successfully in New York on August 28th.