Title 11 — Revenue
12 chapters · 127 sections in this title.
A.S.C.A. § 11.3001 Scope of application
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This chapter shall apply to all bonds, notes and other evidences of indebtedness of the American Samoa Government(ASG) authorized by the Legislature, unless otherwise provided in the authorizing acts. It shall not apply to indebtedness of any governmental agency or any public cor…
A.S.C.A. § 11.3002 Finance Committee
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The Governor, the Lieutenant Governor, and the Treasurer, or their designee, shall constitute the American Samoa Finance Committee. Two members of the Committee constitute a quorum for taking action. History: 2000, PL 26-24.
A.S.C.A. § 11.3003 Records - Administrative and clerical assistance
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The Finance Committee shall keep a full and complete public record of the proceedings in appropriate books of record. The Governor shall provide administrative and clerical assistance for the Finance Committee. History: 2000, PL 26-24.
A.S.C.A. § 11.3004 Rules and regulations - Chairman
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The Finance Committee may make appropriate rules and regulations for the performance of its duties. The Governor, or the Governor
A.S.C.A. § 11.3005 Reports of debt management activities
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The Finance Committee shall prepare written reports at least annually summarizing the debt management activities of the Finance Committee, which reports shall be sent to agencies having a direct financial interest in the issuance and sale of bonds by the Committee, and to other p…
A.S.C.A. § 11.3006 Evidences of indebtedness - Issuance - Signature
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Bonds, notes or other evidences of indebtedness of the American Samoa Government shall be issued by the Finance Committee. They may be issued at one time or in a series from time to time. The maturity date of each series shall be determined by the Finance Committee. All evidences…
A.S.C.A. § 11.3007 Disposition of proceeds from sale of bonds
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The proceeds of the sale of any bonds shall be used solely for the purposes, including any expense incurred in connection with the issuance and sale of such bonds, specified in the general statute or special act authorizing the issuance of such bonds. History: 2000, PL 26-24.
A.S.C.A. § 11.3009 Retirement fund quarantine of American Samoa Government refunding bonds
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(a) The American Samoa Government Employees Retirement Fund is authorized by A.S.C.A., Section 7.1444 to undertake, by action of its Board of Trustees, to guarantee the payment of the principal of and interest on bonds issued by the American Samoa finance committee for the purpos…
A.S.C.A. § 11.3010 Legislative authorization of refunding bonds
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(a) The American Samoa Finance Committee is authorized to issue refunding bonds in the principal amount of not to exceed $19,000,000 for the purpose of refunding part or all of the following obligations and to pay all costs incurred in connection with such bond issuance and refun…
A.S.C.A. § 11.3011 Trust funds authorized
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(a) The Finance Committee is authorized to contract with a trustee bank or trust company for all services necessary or useful in connection with the issuance, sale, delivery and payment of such refunding bonds. (b) All revenues from the following sources may be pledged by the fin…
A.S.C.A. § 11.3012 Consent to suit
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The American Samoa Government, whether acting in its governmental or proprietary capacity, is subject to suit in the territorial and federal courts for obligations created in this chapter, and shall be liable for damages and subject to the equity powers of the courts in any actio…
A.S.C.A. § 11.3013 Procurement
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All decisions regarding purchasing by the Finance Committee shall be in strict accordance with the American Samoa Government’s procurement laws, pursuant to Title 12, A.S.C.A. History: 2007, PL, 30-26.