[Repealed.] SOURCE: Added by P.L. 26-058:2 (Nov. 20, 2001). Repealed by P.L. 36- 071:24 (Dec. 27, 2021). 2022 NOTE: Prior to its repeal, this provision stated: There is hereby created an Education Facilities Fund (the >Fund=). The Fund shall be a special fund of the government of Guam and shall be used for the sole purpose of constructing or renovating education facilities. Expenditures from the Fund shall be by appropriation of I Liheslaturan Guåhan [Guam Legislature]. The Fund shall initially be funded in an amount not to exceed Two Million Three Hundred Thousand Dollars ($2,300,000) at the time or times and to the extent that amount constitutes revenues derived by the government under 48 U.S.C. §1421h (§30 of the Organic Act of Guam) and previously deposited in a debt service fund with respect to prior bonds are made available by the refunding of such
prior bonds pursuant to this Chapter. Thereafter, the Fund shall be funded by appropriation of I Liheslaturan Guåhan [Guam Legislature]. The Fund shall be managed by the Guam Economic Development Authority. Investment income on the assets of the Fund shall be deposited in the Fund.
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