Approval by Guam Economic Development Authority

Section 50103(k), Title 12, Guam Code Annotated, provides that agencies and instrumentalities of the Government of Guam shall issue bonds and other obligations only by means of and through the agency of the Guam Economic Development Authority (GEDA). No issue of bonds authorized by this Article shall be sold until the Board of Directors of GEDA has adopted a resolution approving the sale of such issue.