Measure proposed to authorize $50 million in road improvements

Speaker Benjamin J.F. Cruz announced on Jan. 19 that he is drafting a bond bill that would authorize $50 million in village road projects paid through the island’s Guam Highway Fund. The draft measure authorizes the governor to issue a series of Limited Obligation Highway Bonds to fund several of Guam’s Capital Improvement Village Streets and Roadway Projects through GHF. With an interest rate capped at 5% a year, the proposed bond borrowing is estimated to cost $3.5 million per year for 25 years. The Mayors' Council of Guam would then determine which village streets and . . .

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