(a) There is hereby established a fund to be known as the Port Authority Fund which shall be maintained by the Board separate and apart from other funds of the government of Guam. Independent records and accounts shall be maintained in connection therewith.
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(b) All moneys received by the Authority from whatever source derived shall be deposited in the Port Authority Fund in eligible banks as defined in 5 GCA § 21112. (c) All expenditures including payments into sinking funds or other special accounts shall be made from the Port Authority Fund. SOURCE: Added by P.L. 13-087:1 (Oct. 31, 1975) as § 14008 GC. Codified as 12 GCA § 10109. NOTE: Pursuant to the authority granted by 1 GCA § 1606, the reference to the Government Code section in subsection (b) was altered to reflect the codification of this section in the GCA.