TWELFTH GUN1 LEGISLATURE1973 (FIRST) Regular Session

.~~ Territorial Law Llbra:1'y~ 141 San Ramon Rd.

~-~lUl; Guam 96910

CERTIFICATION OF PASSAGE OF AN ACT TO THE GOVEfu~OR

This is to certify that Bill No. 586, IIAnAct to amendSubsections (a), (d) and (g) of Section 53552, andSubsection (p) 'of-Section 53553 Title LIV of theGovern~ent Code of Guam and to add an additional Chapter,designated Chapter IV, providing for the financing orhospital facilities for public and nonprofit agencies,by the issuance of revenue bonds by the Guam EconoI~icDevelopment Authority, and for other purposes II,was onthe 5th day or December, 1973, duly and regularlypassed.

ATTESTED:

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Attorney General of Guam

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~UAM TERR.I l'(;~ .(.LAW LIBRARY

~.L'~.- -.~"CARLOS G. AMACHO'Governor of Guam

APPROVED:

DATED:

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OE~ ~I~J~ Gi:;,'f}:::i :~<::~~'~:1-"!(~'J::=~):--f\!:: f\~I .;·~.})DI1~!:D::.::..T~ CI-I.:·~::"l':sr:.~ l)l~S :~i~;:.·\·l'~::·~;C!~i~~;-_-:~1I-:.~: F\:!.,J·ij~r)I::C: ~.:-C:?~ '.f~·:L ::14;~:r_·.,~~r(;~~~::~OF }~~",J?I··l/.L }-'./:.C:~~I'~I;:S :~.(:~~l··~~i···f";-=:·!=':; l:~~r;;1··101··:::':·~:..~;~::::·~" _~-:;~S·~~\=:C~:~3.. D~:·.'::t~':I~~:: .. ~:~....~~:~~OJ? =~.s\"E~[IJE E!Jl·~D·S J~:::_-:I-r~ (~{jl:~r 1C>..~:·~O!-:=(CDE~·J:~L8}·:I'~~:~·T/-\tJTtl;JRI~'):·'J N·;}) r10I;. 0:C:I=F~PU~~POSES..

asrrended by

the pro··Jision of a\tcquRte) modern ~1d ~ffici8ni: :1ospi-to..l

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!:1<3as Ul'<::; S

Gua.m

B5.11 No', 586

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Section 5360 (3.

Section 53609. OJ..

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ra."ClJ.171.CS ..

Eospital Facilities Finance Act

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Sectic~ 53508.1!~. Remedies.

Sec~icn 53508.1~. Bonds or notes 81iZibl~ for

S'2c::ion S3CO[;.17. Rcfundinz bOrld~ c=, notes.

S2ctio~ 53508.10. Offic~rs not li~ble.'.

-act:o~ ~~"OQ'" Tav =~~Mp~~on~-..::.. ..L J. • .J..J U. v. J...:J .•.• _ ..;:.." '-=,.. ~... L ..•... :..;;.

.~·;ection 536 a:J. :2O. Confli.ct of i~:tcrl:;st.Secti0~-, 53508.21. Addi';:iona~~ r:J.ei:hod.

Sectio::l 53S08.22. Libcri.il constructi0n.

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land B....'1d

context clearly'

Chapter shall be

As U5Ad or refer~ed

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Defin:Ltions.

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, ." . .,., .',"_ f' ~. '~,~.;~: .••• ~~:~~ .,~,;7,·":~..pletion of ccnGtl"'u~i:ion, ,the 'cost· of engineering and~'·:;,.·

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f' o •• -' -I- • , d d· :-',' ....:...nanc1.ng cnarg~}s,. 2nceres I.. prl.or "'Coan UT'lng conS-CrUC\.l', .

\'d) 'COo:::·'-<::1 -;:r:- "'- ..•••,....i;·">d to an" ho •...-.;o{-a1 f~· ....~l~.;.-i'->c'-"l._ <'; •• ,~ ~r-'!.J---'-'- J, J Co}'...!..\- __ C.J.'--!... ~\.- \=.;:0:;)

(b) : Bond;! or 1 ;-:otes i Tn2..J.Y\S thQ rev~~'!l!~ borre=: or

and, if d2emed c:.dviG."1.bleby :the. Board, for a period' ilot",:"

..uni:nproved;~ the CO'8t or. der:101isIli'n[;, X"el~ovinr;·or.' reJ.oca:tin~

........... ~.. :' :.~~~.-~. ~c:.ny bu~lQ~r:gs or f::ty.'1J(~tures 0,1 land so acqulrec.) lncluGlng I,

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the ~osi: of acquii'ing any land tq v:11ich su.ch buildings OP j• ':. 1'" ••• '

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strllctur.3s Bay be mo ...•'-ed or 1':;eloc2~-i.:ed ;~'the cost of all' ,. :J, .. , ~ . ,.' I••••• 0.. ..•••• '" _ • ~ • ~"' .•• ;tr

mac1unery, fD~ecl ul1c1 mov2Dle equ1.pment a:1G :-urrnslu.ngs·;:~.,, '.' .~

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\ .• '.....excecding. ·t~:o (2) y~aY's after. the eS'cimi1:tcd: date' of' con"~-·.

(~.) r B0,2~d i J7,~'::~8 t:1'18 B021"ld of Dir2ci:Ol, ....S of the G(!.~-:;.

Sc:.::·tiO!1 3 :;~~Oe. 2~~11 Public:::.Jcion of :n·::·tic~ of

other p:,"'op2rty, both real and personal al"1d impr6ve~ aI1d

lature;

Ai.1thori ty, created ily PUDlic L2.~·'8- 80, Eizhth Suan L'~sis-

in·jic2:tC3 Oti1su·:is(~:

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,lDcome

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(d) To fix, rev:~.:Je] charge 2.~d collec't or cause to

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, .. , . 1 ~t .'a.rc,D.:::~cts, ai:toj,"'~eys, nospl ta COr:SUL <Ll.ts, appl'<:llsers

fl"'Oj!l =~ny ho=!"')i·talfacili-cies &"10 ;~1}"ag~2e1:i..:n·t of le2..sa,

fin2.r!~·?;

and cl;'Rl"'gcs

to

Co~poration from sales

hos?itdl f~cilities finn~ccd pursuant to this Chapter;

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(3) Adeauate provision shall be cade £o~ the

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payment of the principal of and the intcres~ on the

t· 1 . ~ "'" d .. \-TIt]: J..on~ l"'CPU1:C relL' SKlJ._ Cli1 CXpCl"lCnCe In SUCI.

feasib.i.1ity

be located;

f 'b'" . - - .. f' .... b., ; Ge.Sl ':U..l -r:y or -cno -lTIa.1'"IC1.DZlS supp0:;:'L"ec. y a

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reqtlire!~ents shall be fi~al and conclusi.ve:

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(5) The less€8's oblig2tion to p~y rent s~all

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been paid or sufficient funds have be2n 1~Edc

aHa-; i a:"' Ie .;-o~ sn~h ""'~:ll""",n-:-~ - - ~ ..•.. - '- '-'. ~ '-•.J ~~.•...." i •...«

All obligations payable by a ')ubl': C -:,,.,-T.,,,,~ "T).-1;:.r1 .1.. c.:.o~....L"'-J L:..1._ ..._

?.•_J

28

.. 1 . 1 r'an ~gr~cm2nt or ease, lnc u~ln~

pay rent and to pay ·the cos ts of

29

30

1 •.•• h . 1" .1... '11 ' '-,ana m~lnl:alnln~ aspl. ta r acl. l "().es, sn2. _ De p<:.o.~'2D_C

801.s1y Il"'om t11;:; revc:n\.~c:; of the hos pi ta.l facilities

11

I.

III

th~i:if

itsIn

1:0

"'j -r.O 'i-:....~i("'rl 1\ O"·i.::') ~,\~) ...•Z.a.. .• .t ••• __ \,..;", • , •• 0_ ••• v __ ,

or

GU3.i:l

Sec~io~ 53308.07. Construction c0ntracts. C~~tr&cts

12

£Ol" th~ construction of 2JiY project ~ or Ul'q pa:-·t tiwreof,

th8 Dos-rei She'Ll} d(~ter;d.n2 i:1~at the purpos~3 of 'this

r.1a.y be a~·!3.rdedby the B02Z"d in such Dannc;r' as

ne~otiated ba~iG es

of general circ~laticn i~

Da~ticiDatirl~ hcs~ital facility,- - .....

":"~~r; "'o-..-,i':"'ril .!._'''"\'~' ;a~_..._ 1-:~1'~::,\f:} -. ~ -,1 ~ r'" .;: -~~ '1-; -'''if'' -,. ~I._i./. 11, ';'1--1.C-- J.c..:. •••••••• '-y ,-~,,-~o.;}(, c~::_a_ OJ. C'...!..":' _,-_.CHJ >::.:1--,-

Ii

/:

.lI:

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I:H3

;,

:!j:'jt;

!,:,"~

Ii

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Ii

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9

!!~:I;Ii~ '"Ii.r~1...1 rI',:,, "

, . 11~ .•.. I;I',~~i

~/.."i',!

., ~!;

...•..;j :iif""14Ii

I;IIIS

I'IiIIi'IG

i!pI'

17

II

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II

..L0

I,

I!1-3 Ii" ,

LU IiI'21

I!

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r,~

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II25 25

II

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o-

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II!

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of

., ,c~cJnsl.S ·cc!:-c

p ~ •••••

3 U.Cl1 r 11!!' C~C :.on s

- 13 -

.'

2.S in its j u.d(!~.;(~:).t: 5;-".:-'..11 p:;:'otcct the publi.c i.r:t'~1:':":3-C .--' - -

Section 52508.08. CJ:'c:di't of territory not - '~d[;ed.

in such contr2ct, i;:cluding

that 'the Boa.rd :TI2:l, out or proce:::ds. or bonds, r.12.ke

advances to or ~8inburs8 the 12ssee or prosp8ctive l~ssee

for its costs -ir,curred in the pCI·for'!i1iJ.ncc of such func-

reir.-,burseJ:1C:-lt by the: Board. Any SI1ch coni:r~ci: :<naypro·.;id.~

i:ion ~"l1d supertJi.3~LoZ1 o.f cClns·tru.c~i..on, the Gl~ployr:lGnl: of

tion thcre:Ji th ·COassur2 co!nplianc0 "'lith th'3 p:rovisic~s

examina.tions and Cludi ts th.:.~t8h<3.111;.:: req uir,:?d in cormcc-

r. ,,' C" d - .•..•..o~ ~nlS nap~er an sucn con~rac~.

'~he provlslon of money

H.

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obliga.-:':2d

a,:vI poli tic2.1

e~c'::Di:

of•• e.

p::'l11~;lj' ..=l..i..

by

that

or n0t(~.

ef:':cc-t

, ,DC11(t

-the

ta

LXDE.:11SeS

such

for such paY::ieni:. Any such no':;cs ITl<J.Y be IncJ.de p.J.yc.tle from

..-

ChaI)ter a~1d no li~::b:~li"tyshall be :~nc:..!.~l"'~~d~:"" the Bc2.;"~!~

been so provided.

plc·jgc::l

li ·:;.1

tioD of tJ12 iSSUR~CC of bo~ds, useful or ncc2ssary in

ti~8 or fro~ time to ti~a, of bonds or not8~ in 2ntici?~-

fu~ds provi~ed t~1cr~for.E~ch bo~d or note iss~ed und~~

on

thi~ ChaDtar sh211 contain on the f2C2 thereof a stat2-

subdiv±n'icn th2r~of O~ a pl~dg~ of the faith a~d credit

I'

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of

..•.h;'2..-~'::10UL

to be such officerC~ctS e

ord£t"ce

BoaI'd may also provid~ f01." ti12r

-'-,,,",, 1 •..~ .'- C> ~l. .•••.•..•..\".c_

tne:roc-coatta.c1~(~d

fisca.l aGent. The bO:1cls 01" no·t(~~ may be issued in

O:L' cou;)ons

until sue;) d~li vc-:.ry. The

before the delivery thcl"eof) such signature or Guch

2uthentication of the bonds or notes by a trustee or

1~ . 11 • ~ h h - . ~. L:," •a_~ purp032S T e sap2 as ~= C i ad re~alnau ~n o~~~ce

coupon or i~ registered form, or both as the Boa~d may

,facsi~ile shalf nevertheless be valid and suffici~nt for

of any coupon bonds or notes as to principal alone and

also as to both principal and interest, and for th~

!!tile of 'i";loe.e signa.ture shall appear on a.i.1Y. bonds Or' no"1::es

'Ii;;

'Ji f ~-'- Iii;L

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of

..:- '\" .......••c

:=,-.~iilJ. D',::;

J ~' __ l

~ '-,/'-1 ~ .. ...;.... t~. ~__ .:.._ ••__ • -. 1•••••• .- '••••

0",.,,.

., ..sO.:..U l.TJ.

16

cOl~d:i.t:i.cnGanyofhc:.ppening

C()~pcr~'!.-!:j.()n

or "Uw

Board may also.provide for the repl~ce~ent,of any bonds

agency of "I.:h,:: l:~rri tory, 2nd Hi thou-:: any ot1'\'::'.:." procecdings

exchangeable for definitive b0~ds ~~sn such b0nds shall

no'.:es .

if an:/" c.3

f "C .. : TI-:'C

have been ex~cuted and arc avaiJ.a.blefor delivf:.::'Y. Th~

Ii1"

112

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as

of

anc

forth -'che clui:ics

provisions ~f this

pr'oceeds may be appl ied, 'the diGPosi'tion or pledging of

Sec~ion 53608.10w

may be reasor~a.hle an(J p:i....•6p2~ and not in viol<.:,ticn of

f2:ci1i ties, a.ndmay, also r.::Jl...•tga~€::any hOf~pi-tal .facili ty,

and funds received ir. connection '\-?i ·th ~.,y hospi -c.al

proc~2ds, cvndemnatio~ a;·:2::....ds 2Ild any other reVertl18S

r2medies of the hold~~s of ~ny such bonds or ~Ot2S

or part thereof, as additional sccurity for 2ny bo~ds!

l's"'''ed '111-'i",,'Y" +•...i'" Ar·t ("1"· •.• .;nd"'''''.;-u'....:.> ma'· co,,-"a:') "'liC"'0 •...•. ~_ UI". .•_ !w11..,;, '-. u\-._.I. _J. •••• __ ~_ y 1_1...1..1. CJ ..•.~l

Legislature by r2so1~~icn~ SUC}1

•• .&: •••.• - •..•.. '1 'r •... J-p:i...•OVlSJ..ons ..:.01"Pi....OL~C1:lng ana enrQL'C1.ng ':ll~ r::..gn LS

may b2 containsd in the indanture. Bonds or'notes may

the: iT1(;C~tU!""'2 w.u~:horiz.:;_nz a.nd securing the issuance of,

b· ~ ..e lSSUe(~ J.n 2~cor~ancc

such bbrids or n8t~s.

'Board in r(~lation to the purposes tc ~.:hich bond or no·tc

I'

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P

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il19

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20

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as :-:~ll

the

fer tllC

furnish s1.~ch

to the p~yment of

con.:1itionsand

of such indej.1tU1"'S:

. ., , , .!!le.y prOV1.GB -C,WX

T

..assJ..g~eC!

inch::nture

, .O~-t""\·""\· •.•••.~-;-~orl""\,; Vf~n Ll·~.3

CiS a part of -the cost of any hospital fe..cili·cies 0"[' p2.id

officcrc Hill also ;~rforr.: ill L such coven::nts and .::.2;:!:'2emcr..ts

f .h f -' " bl . - n . I . " ..rom any o~.er 'unes aval~al e to The oara. n aCQl~lOn

iSS1.lanC2 of additi.o:1Cll hends or notes) and the custody)

iI1(le~if:.lin3 [j0D.c18 O~"'\ to 1)10dr:~c st!cl1 s~~cur·i·L~~0Sc~s :r:~c.=/

H1~ich in2.:! act as c1epo:~it(l~Y of -the proceeds of bond::: (;1"_

~-Thi.ch, t:.nder the: Org.:mic A!.fc or any provision of this

hom:c by all the covcnan-cs and Ll.Gr·~er::2Dts 0:'1 ·the. par-t of

in

from tne revenues pledged or

safegua~ding and a~plication of all ~oneys. ~~ s]1all

other officc~s and agencies of the ter~itory sh~ll be

to the foregoing

the principal of ~1dkhe int~rest o~ bonds or notes or

be required by the

;lOtC3,

,-the Board set fOl...•th in such ind.:;ntu:::,e and -th.1.t such

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if

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or

...~;1'::'lnt::ll~ :Lng

and -Co

5h2..11

been pro'ilided) .

of

19

the nrinci~~l of ~nd the interc~t en all• >

C03tS of operating, rcpairin~ and

-to pay

of the

Cii)

• Q"""" ~ • -i ":'"'.7 Y') :.') .=t ; 1"'"'~ . ~7 - ~ ~ ...•• "- -. ·i ~ c ":"'1-, ~ ...•... ~. +- :~, 1op~_ u,1:_-->c» _ ep_ ..__ Ilw c.::1,-< I••c"lln (Q.~n~nc LHt: 110Sp_l ~__

, ~ 11 .•paym·::n"C 01: 81..1<:;:.C03t:8 )12.S

f '1 ' ' "I ••• ., •• J:: ~ ..•.-aC1_1L12S, to tne eX~2nt tilat aacquate prOV13J.O~ ~or ~n2

the bonds u.S the S~:rr;8 sha.ll hecoi:lc dt!,~ and p2.Y2":)1~ aZldY'

hOGDital f~ciliti2~

may be. !il~de a\"ai]~2.~ l~ t!11-.=~.~1:()1"':

for,

shall prohibit the

to the pay~ent of debt Gcrv~ce on th2 bonds prior to the .

If

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..~""2CC J.~./~-s

. "D -:)"C :!.. C::::

Hotht·,iths'c2.nding any

to the contrary) all boncys

or any stated percentage ther2of~

All

Section 53608.13. Trust funds.

this Chapt2.r' (md in tr:c indcntur·c.

~i1"'Y'I~C7""\c,""+i'~':) r\V ;,:,~....,,~}~1'1'-:''''i''''c::"r-. .•....., 7..,~·1...,,+-·; ..~c-- --.....--::,":T,-..-.._.L.-~1.J'-"'--._\l ..- ,",_ .~J~, .. L. •.•••.• __ .•• _ ••. p_ ..._ 1._._ .•..• J.4~"'~

exercise and prosecute en behalf of the ho1ch::::,s C~ '::112

(b) Th c> i'"~-1·'-l"·'", s'" '"11 p."." •. : de .":'0'''' 'j-', to' cl,...,- ~.; .•.. I) '.'• r_ .•..•.·..!L:1 _ •..•.• \;..• ~,c.:. _ !.vv.'- J. ~J.. _1 •. ,"- "-J...o __,_ •.•• 1... ~

Guch DorJeions ofrcvenucs as C1re Dro\.,id:::d .J.S sc~:.tT'it\, for•• J

all ~"evenue3 Hi-eh th:=; tl"ustee a~d for the holding t1181"'~~fT

ffi2Y authorize th3 trustee to act en behdlf of t~le 1~olde~s

the bonds end ror t;".·~ 1101cJing thereof by Guch tl.'U.: ·::ee.

All noney so held ah2..11 be di3bv.:>:·sed o:11y as provided L1

bon'!'" ue' ..•· "·1 -~c -,-,d ''''~T''' ,-'I" ".""'" _.~ b"" 0;;'>'; 1 .,,," ", ..•...G" S .1. rlg,1~~ co.,. __ c.._l.e,-,1.e,~ •...•.•> m.a..> ~~ 2,'J~~_.;.; __,J.,.• ,-0

th~ hosni "":,11f:J.cili -tics"

other provisions of

,mace.

of the bond8~

the holders.

records of ·t~12 Board.

by ·the t::oustec and fcr the -crans rer to such tI'!"'..:::i:e~of

further act~ and ~11~

'I1."

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II17

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E

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20I!

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21

II10

il22

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II22

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2;:'n

II25 'I

25

III27

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28Ii

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32

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I

01" notes ~

a!1Y other

-' or ,uncer sucn

pendii1[; the

such bOi1ds

may be tamporarily

indenture or under 2.ny o"t:'her con-tract executed. by t:he

protect und enforce any and a.ll rights unGer "the laN'S

.'

- 21 -

" b .~ .... ~.equJ.:ty, y SU2..t" actlon, rr4<J.n.aamus01" 0-':l1e1" proC'2~cnng,

coupons appe~t2.inin.z thcl"eto, a.nd the -trtlst(~~ u;1d.~r eny

tricted by such indenture, ma.y, either- at 12."11 or in

or by such indenture to be perforirccd hy "che Board or by

standing any of the foregoing provisions of this, Chap'ter

Section 53GO8.15. Negotiable instrum(~ni:s. No-cwith-

Board PUl""'S uant to this Chapt2j.:', and m.J.Yenfor'.::e and cO!7lp21

iSSU21.CC of any bC:lds or notes ma.y p:!:'ovide that 2.ny or

of such ;:',oneys and 3;,a11 hold and apply "che s.:::.;:;.e for tfiC

revenues and fU!1GS i::',?-ceiveG 5.T! connection Hi. th allY

any officer thereof.

of the territory or ~ranted hereunder or

.I-h·t:'! C'~ ~"!':II =" A "'}"O ~ r~ 'I'''!-... 9-..•.•!";".. -1:1' -"'/"\V":r1r~I.:.1.", Hap L__r CLn~ "(.1, __ n •..•.e.:ct1,. __ I!L:1J p,- ,.) .~~__•

~·:hich such Honeys [;;1211 be dcpos i ted shall act as trusJc,=~

the performance of all duties required'by this Chapter

includIng) Ki·i.:hout li!nit~rtion ~ fees, ~Iej'ri:s,

notes ~ssu8d under the provisions of this Articl~ o~ any

hospit~l facilities, shall be deemed to be trust funds

received pursuant to the arrthority of this ChJptar,

. to be held and 2.pplicd sol'2ly a.s providQd in -this

1

,'{I

I,

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i. I''II,3 II

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8

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10

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14

,I

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I17

Ii

II18

r

II19 20

II

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Ii

I22

,I

II23

I·

2/i

,I

25

II

II

2G ~I27 ?a29303132

! II .

IIIi

or other fOr':rrs

SUCi1 bO;lds Oi'" notes a!1d

puolic

fcr~s or inde~tedncs~J then ou~sta!1ding t·;hich sh2.11 hav2

indcntur2 fo!.~ the iss u:::nce of reful1dillg b0nds OT'r;.ote::s

Board is hereby author;ized -;:0 provide pursuant to 211

Section 53608.17. Refunding bends or notes. The

d .. .r.: b' .. 1" ~ '- 4-' •-CpOSl -c OJ: O!lQs) no-:cs Ol~ OD l[;a-tlOn.3 OJ: tr:e l.el"'l'l'Lor"J lS

premium therC0:1 and any interest accrued or to accru~ to

to this Chapter) including -::he p2.Yi:lent of any rec1(;mptioi1

pur:;:>ose for ,.:hich bonds or nO'i:C~3 ,;,!lay be issued PU:","'su2.nt

for the purpose of r2f~nding ~ny bonds, notes or otherr

been issued by a nonprofit or public a~ency for any

the cIate of redemption of such honds) notes

-. t:--,4-"""1"'1:':)0j+ T:!I""\'-~d"'" ~.- o.i-~_ -("~"'~'1 .... "")......, .•_~~ •., 7·: ...•~ •....•~lnv_ ..-,,-:,.,_l.~. u'J, ••... '_l.' ?10,-·~,::: l.,~.,:>._t..\.. U.ICl:.....:. (1"_ p!.O\~u...:..G.••oO)

now or may hereafter be autho~ized by l~w.

this t8r~itory) Gi!.~jcct oilly 'to a.ny ap?lica.ble prv,!isibns

or any r~ci -cals i::: a.'1:t bon~::> O~ .'10-(:2.5 is~ue\." u.nder th~

provisions of thi~

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of the cost of ~~y

fecili ties toadditional hos?ita1

~fOI~S of in~cbt2dn2SS to be refunded shall have been

ext2.Ds5.ons or cr'L~J:·f,e;r,..,mts of th3 1;ospi'calfacilities

refundec) CL"1d, if GO providetl or permitted in the indc:n-

bonds, notes or other forms of indebtedness and any

the principal) c.ccrued interest and any rede!~J)"tion prel:1ium

or notes) to the pay~;ent of any interest on Guch refu~din6

ture securing and au~chorizing the issuance of suchborlds

notes) with any other availalJle funds) -to the' paYr.1ent of

chase, redeITotion 0:''' paYi.le:li: of such ou~staIH5ing

on the bonds, notes or other for~s of indebtedncss being

cQtion of the proceeds of a~y such refunding bonds or

Refunding bond:'"; or notes may be

notes or other for::ls of indebtedness. Pending t!~e 2.ppli-

ness c3..:"1d) if sold) t;"c p:':"oc2eds thereof IDay bc applied;

in addition to any other authorized purposes~ to the pu~-

for SUcil outstanding bonds, notes or

appropriate ther~for.

of- bonds OY' notc8, insofar as such p::ovisions ~".:;,y be

~ • 1 ',.,.-' "c~ .,,..,.-1 ~.:: d·' ....·c,"'-1 clvi :"11'1"" • - t1.", B "'d f0.1. ~nceD ~~..Q:l.:;.~.:> C':"',.1.J.. '-'-J"'_l a.1 .. Sc .•. ' _ Dy d-.:... oa_ , or1

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c'.!...irm or

·to such

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such securities and subject

be i~ aJ..l rcs~cc·ts for the bcnE~fit of the rcople o~

car'poration

eI:lployee of or have an m'!I1cr3hip interest iT1 2.ny

addi~ional and alternative method for the doing of the

S~ction 53608.20. CaTIfli~t of

• ; C' • r ..a..h· ~ C1--,:,\ +-~ ...., ..,., , .... ':'"')."-~.~ • "t"'r-~"'\--:' ...t .• '!-.j •..••....f'~ -.prol_OJlC':1S 0_ ,L! l.;, .!.c..p __. .:.. 0_ U}J01. 1.:.1' .... J...~_v..._ L,,·..:..!.~_J.o.n.

ffi1rl the Boa~d shall not be ~~Guircd to pay a~y tax or

ei ther dil....~ctly or indircc·tly, or shall be &'1 officer or

." ..,~.:.

L.!l~

,; .::bi 1 ~ -1--- 0"'" ~""c""'1Ir.-!-.=11"\;l'~ to, Dn ~"';:<:-'''''T' -,: ;1i<- c .•..•<>CU-'-; on--- ---.-y .- Co\- v_ .....·_ -.. _ .Jr.. J .J' .L.c;._.Jo-J.l '-.J.L • u ..__,- l. _

Scction 536C8.!9. Tax exeDptic~~. Bonds issued

."

'.the Board, and the memoer, officer or employee ~2..ving

to the Board and sh2ll be set forth in the min~tes of

of Sectio:.-, J.l of the Organic P.ct.

subh int~rest therein shall not partic~pata on behalf of~

~he Board in the authorization of any Euch contract.

60ntract with ~he Board, such interest shall be disclosed

or offic2::""of th:c;DC3.~·d shall be subject to 3.:."Y personal

~ay b2 invested in

1- .-;-..:....:...,co '=a ,-:), -rc . ~:~ ' 1 .J-1 C1 ..eV":(l +'-'0lmJ..~at.";'Ol . ..;. =s '-'-.c';;" "'t)""ClI ..•...G _n L.1.._ .L.l,en •...U.1.,.•

e'" ~nc-cc: 1n ~on~'~c+:i!"'\'nT'l"i'h cuch ....."'f""cin(T "'1..11'"'"" ,... c"'~ds:.:..p.__ ~ _ ,.,.. JL •••...• ~•• 1. •••• 1 .•.•••..•• '"- .J. .••. _ ,"","01 ..••. ?~ ~ ..•:1 D_O '-_ .

Section 53600.21. Additionul mcthod. The foregoing

.,scctior~f1of this Chc~pter shall be dccr:1cdto proviJe an

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Ba::l~i shall

or

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noticeof

in dC~o~iltion of

Publica:ticnSectio~ 53508.24.

Sectio·., 52608.22. LlJ)eral c0nstruc-tio~L This Cne.pter,

resolution. Statute of liJ::lit:atio:1s 0:1 actio:-!'3 i.nv..:.J.vif\g

1 " b ,- B d .•..·t t' . , ,UTlOD Y Tr:e· oa!' COl:S I..l U J.n~ an lilClcnTU::::'2

th . .r: b" ., ..,. r-;" J.- • ~e ~ssuance o£ ones u~a2r ~nlS ~~ap~2r, Tfie

bonds. Within fifteen (IS) d~ys of t~8 adontion of a reSQ-

issuance o~ bonds or notes~

notes und·2:':' t";-,8 provi~5_ons or 'this Chapter need no·;: comply

the terri~ory, shall b~ liberally con~trued to eff~ct the

Hith the

she.ll not

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resolution. II

seeking -to cnj oin the is~ua.nce of SUCD bonc2s, rrfu.y b(~ COIn-

da'i:e of publication of the not~icc of a:Joption of eU'2ft

~. ,IIIii,

Gu~;:'!.. No

issued under such a resolution, orrvalidity of any bonds

menced by any person t1(Yi"'C than sixi::y (GO) d':~Y5af-ter the

t . t"-' " \-.• .J:: ~ "ac lon a \.ac."ang, ques''..1.011lng or aJ..:::-ec-:':lng

... ~ . ~b d "+ b' -'aggrega~e prlnplpa~ a~oun~ or on s ~raposea _0 '2 lssuea,

. ,. 1· -...1- ••once In a newspaper Or gener& ClrCULa~lon In

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31 Section 6. There is her2hy appl."\opri.a teu fro::: arty a-.r2..ilable

32III funds in the Unappropriated Surplus of the General Furld theIII

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of a

-to

any aV2il:3.ble

\Ji'!shingtcm

in sending a deleg2tion

'1.\10

hereby designated 2~

I3r3.TIch to

s~~ding a delegation of three

Bl....od::..2 ?-iemorial School in Tt.Eil.Or:.

Pl9 10 5-- 3Rem is

is hersby appropriated

Si~~ty Dollars and

th8 L2E~ir;J~~turc Opera-cion,,; Fund, reir:\burs ing

Nine I-h!i1~.1T''2d l\:en-t~/ Dollars 2:10 Ei.ght

No.

r-O:f

of

Waahington to seek

There is h(?Y.'cby appT'opria·tec1 fro~ any aV<1ilable

Unappropriated Surplus of the

to

Section 9. Lo't

Sect: ior;.

r~i!1s.ta~em211t

Se~,tion 7.

r2imbu~sement of

seniJ.to:'s

of Five Thousand Dol1a.i....s ($5~OOO.OO) for -the C()~ls-tj:'ucti0n

b2sketbal1 cou~t

fnnds in the

fU::1ds in the

sa.id FU:'ld for exp''::DS0.S incur::,:::d in

I::i 5'...:2 of Fiv€ 7!1ou'J2..nd'IIi"""

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16 I: a pecreat:~onal al'ea. for th8 ;:-·::-:siden"ts of Afa22, Sinaj 2.11-:.1..

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I"., Lot No. P19. 5- 3RsIT\ Hith gOVS:('"i:-,1cnt of Guam 12.ncl.III

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