Property for Commercial Purposes. (a) Notwithstanding any provision of law, rule or regulation to the contrary, the government of Guam is authorized to lease
government-owned property for a term not exceeding fifty (50) years for commercial purposes. (b) No portion of the leased land shall be sub-leased without the written consent of the Governor, approved as to form by the Attorney General and approved by the Legislature as provided in § 60112 of this Article. (c) All leases shall be executed by the Governor, attested by the Lieutenant Governor and be approved as to form by the Attorney General. (d) A copy of every executed lease shall be filed with the Department of Administration. (e) The lease shall be approved by the Legislature as provided in § 60112 of this Article. SOURCE: Added as uncodified law by P.L. 15-006:3 (Feb. 28, 1979). Codified to this section by the Compiler. NOTE: Pursuant to the authority granted by 1 GCA § 1606, the reference in subsection (e) to § 3 of P.L. No. 12-061 (Nov. 27, 1973) has been altered to refer to the codified provision.