Community Affordable Housing Action Trust

12 GCA § 4209, under Guam Housing Corporation.

12 GCA § 4209

There is hereby established a fund to be known as the Trust, which shall be maintained by GHC separate and apart from any

other funds of the Government or GHC. All monies received by GHC from the Government for funding of Interest Free Loans provided herein shall be deposited in the Trust and shall be used solely for that purpose. GHC shall distribute and manage the Trust proceeds. NOTE: P.L. 21-099:4 and 5 (Mar. 31 1992), stated: Section 4. All unused funds previously appropriated to the Corporation Subsidy Fund shall be transferred to the Community Affordable Housing Action Trust. Section 5. Interest earned on the undisbursed proceeds in the Community Affordable Housing Action Trust and the Foreclosure Protection Fund shall be retained by GHC to cover its expenses in managing these funds. P.L. 21-099:7 further stated: Section 7. Authorization for Appropriations. (a) Four Million Five Hundred Thousand Dollars ($4,500,000) are hereby authorized to be appropriated from the General Fund to the Community Affordable Housing Action Trust established in 4209 of Article 2, Chapter 4, Title 12, Guam Code Annotated, and Five Hundred Thousand Dollars ($500,000) are hereby authorized to be appropriated to the Foreclosure Protection Fund established in 4214 of such Article 2, for the purpose of carrying out the provisions of such Article 2. (b) One Million Dollars ($1,000,000) are authorized to be appropriated to the Government Loan Guarantee Fund established in 4403 of Article 4, Chapter 4, Title 12, Guam Code Annotated, for carrying out the provisions of said Article 4.