US EditionPort of Guam gets the green light to tap agency funds for bond paydown
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Port of Guam gets the green light to tap agency funds for bond paydown
By Pacific Island Times News StaffThe Port Authority of Guam’s board of directors has unanimously approved a resolution authorizing up to $3.07 million from existing port funds to pay down a portion of the 2018 revenue bond debt, a technical correction aimed at maintaining compliance with the debt service coverage ratio requirement for fiscal year 2025.“The port is not in financial trouble,” said Rory Respicio, general manager. “The issue is tec…
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