(a) I Maga’lahen Guåhan is authorized by this Section to enter into a debt agreement on behalf of the Government of Guam for the sole purpose of financing the purchasing and shipping of equipment for the Guam Fire Department and to secure such loan by proceeds from the FLAME Fund (10 GCA § 72106). I Maga’lahen shall enter into such an agreement subject to the concurrence of the Legislature by statute, and the members shall not incur any personal liability for any loan agreement lawfully entered into. The debt agreement shall become effective as of the date the Legislature concurs by statute. 12 GCA § 2103(k) shall apply to the loan obtained pursuant to this Chapter. The term of the debt agreement shall not exceed ten (10) years. For purposes of this Section, the form of the debt instrument for the “debt agreement” may be a loan, bond or other form of debenture. The choice of the debt instrument shall be the instrument with the lowest cost of funds in terms of net present value of the origination costs and future payments. (b) Equipment to be purchased:
Quantity Item Estimate Cost Cost Total (ea) Highrise Apparatus – 1 1,300,000 $1,300,000 Ladder Truck Extension Highrise Apparatus – 1 1,300,000 1,300,000 Elevated Platform Fire Trucks (fully 4 500,000 2,000,000 equipped) Tankers (5,000 2 300,000 600,000 Gallons)
Ambulances (fully 4 275,000 1,100,000 equipped) Rescue Boats (fully 2 390,000 780,000 equipped) Heavy Duty trucks (tow 2 50,000 100,000 boats) District Commander 2 40,000 80,000 Vehicles Jet Skis (fully 3 20,000 60,000 equipped) Special Rescue 3 50,000 150,000 Vehicles (ALS) Defibrillators (one for 10 30,000 300,000 each fire truck) Emergency Equipment 80,000 (Jaws of Life, etc.) Total $7,850,000 SOURCE: Added by P.L. 29-113:VI:51 (Sept. 30, 2008).