Title 5, Government Operations

Whenever in this Indenture it is provided or permitted that there be deposited with or held in trust by the Trustee money or securities in the necessary amount to pay or redeem any Bonds, the money or securities so to be deposited or held shall be: (a) lawful money of the United …

Notwithstanding any other provisions of this Indenture, any moneys held by the Trustee in trust for the payment of the principal or Redemption Price of, or interest on, any Bonds and remaining unclaimed for two years after the principal of all of the Bonds has become due and paya…

Notwithstanding anything to the contrary in this indenture or in the Bands contained, the Government shall not be required to advance any moneys derived from any source other than the Revenues and other assets pledged under this indenture for any of the purposes in this Indenture…

Predecessor. Whenever in this indenture the Government or any Fiduciary is named or referred to, such reference shall be deemed to include the successor or assigns thereof, and all the covenants and agreements in this Indenture contained by or on behalf of the Government or any F…

Nothing in this indenture or in the Bonds expressed or implied is intended or shall be construed to give to any person other than the Government, the Fiduciaries, the Credit Providers and the Holders of the Bonds any legal or equitable right, remedy or claim under or in respect o…

Whenever in this Indenture the giving of notice by mail or otherwise is required, the giving of such notice may be waived in writing by the person entitled to receive such notice and in any such case the giving or receipt of such notice shall not be a condition precedent to the v…

Whenever in this indenture provision is made for the cancellation by the Trustee or the Registrar and the delivery to the Government of any Bonds, the Trustee or the Registrar may, upon Request of the Government, in lieu of such cancellation and delivery, destroy such Bonds (in t…

If any one or more of the provisions contained in this indenture or in the Bonds shall for any reason be held to be invalid, illegal or unenforceable in any respect, then such provision or provisions shall be deemed severable from the remaining provisions contained in this Indent…

Any notice to or demand upon the Government, the Trustee, the Depositary or the Registrar shall be deemed to have been sufficiently given or served for all purposes by being deposited, postage prepaid, in a post office letter box, addressed to the applicable address set forth bel…

Any request, consent or other instrument required or permitted by this Indenture to be signed and executed by Bondholders may be in any number of concurrent instruments of substantially similar tenor and shall be signed or executed by such Bondholders in person or by an agent or …

In determining whether the Holders of the requisite aggregate principal amount of Bonds have concurred in any demand, request, direction, consent or waiver under this Indenture, Bonds which are owned or held by or for the account of the Government, or by any other obligor on the …

The money held by the Trustee for the payment of the interest, principal or Redemption Price due on any date with respect to particular Bonds (or portions of Bonds in the case of registered Bonds redeemed in part only) shall, on and after such date and pending such payment, be se…

Any fund required by this Indenture to be established and maintained by the Trustee or Depositary may be established and maintained in the accounting records of the Trustee or Depositary, either as a fund or an account, and may, for the purposes of such records, any audits thereo…

The headings or titles of the several Articles and Sections hereof, and any table of contents appended to copies hereof, shall be solely for convenience of reference and shall not affect the meaning, construction or effect of this Indenture. All references herein to “Articles,” “…

No legislator, officer, agent or employee of the Government shall be individually or personally liable for the payment of the principal or Redemption Price of or interest on the Bonds; but nothing herein contained shall relieve any such legislator, officer, agent or employee from…

If any party hereto is required to perform, pursuant to a provision of this Indenture, any act on a date which falls on a Saturday, Sunday or legal holiday, the party required to perform such act shall be deemed to have performed it in a timely manner, and in conformance with suc…

This Indenture may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original; and all such counterparts, or as many of them as the Government, the Trustee, the Depositary and the Registrar shall preserve undestroyed…

The rights and duties of the parties to this Indenture shall be governed by the laws of Guam, provided, however, that the administration of the trusts imposed upon the Trustee by the Indenture and the rights and duties of the Trustee hereunder shall be governed by, and construed …

Bonds may be issued hereunder from time to time in order to carry out the purposes of the Act as in this Indenture provided. The maximum principal amount of Bonds which may be issued hereunder is not limited; subject, however, to the right of the Government, which is hereby reser…

(A) An initial Series of Bonds to be issued under this Indenture is hereby created, and such Bonds are designated as the “Government of Guam Limited Obligation Infrastructure Improvement Bonds, 1997 Series A.” The aggregate principal amount of 1997 Series A Bonds which may be iss…

The Bonds and the form of Registrar’s certificate of authentication and registration to appear thereon shall be in substantially the forms set forth in Exhibit A hereto, respectively. with necessary or appropriate variations, omissions and insertions, as permitted or required by …

Any Bond may, in accordance with its terms, be transferred, upon the books required to be kept pursuant to the provisions of § 2.06, by the person in whose name it is registered, in person or by such registered owner’s duly authorized attorney, upon surrender of such Bond for can…

Any Bond may, in accordance with its terms, be exchanged at the Principal Office of the Registrar for a new fully registered Bond or Bonds of the same Series, maturity and tenor, of any authorized denomination or denominations and for the aggregate principal amount of such Bond t…

The Registrar will keep or cause to be kept, at its Principal Office, sufficient books for the registration and transfer of the Bonds, which shall at all times be open to inspection by the Government; and the Registrar shall provide to the Trustee a copy of such books with respec…

The person in whose name any Bond shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of or on account of the principal and Redemption Price of, and the interest on, any such Bond, shall be made only to or upon the order of…

The Bonds may be initially issued in temporary form exchangeable for definitive Bonds when ready for delivery. Any temporary Bend may be printed, lithographed or typewritten, shall be of such denomination as may be determined by the Government, shall be in registered form without…

If any Bond shall become mutilated, the Government, at the expense of the Holder of said Bond, shall execute, and the Registrar shall thereupon authenticate and deliver, a new Bond of like tenor and number in exchange and substitution for the Bond so mutilated, but only upon surr…

Notwithstanding any of the other provisions of THIS Article II to the contrary, unless otherwise provided in a Supplemental Indenture providing for the issuance of any Series of Bonds, the Bonds shall be initially issued in the form of a separate single fully registered Bond for …

The Treasurer of Guam or his designated agent, shall receive, and account for all monies, from whatever source, giving proper authenticated receipts for the same. He shall disburse monies only upon properly signed warrants. He shall maintain a daily cash blotter in which shall be…

Education’s School Districts. [Repealed.] SOURCE: Added by P.L. 24-142:9. Repealed by P.L. 26-26:13.

Both the Treasurer and his authorized agent must be bonded in penal sums as directed by the Governor. SOURCE: GC § 6101.

The official title of the Treasurer to be affixed to his official signature shall be Treasurer of Guam. SOURCE: GC § 6102.

All warrants must be properly authorized and signed by the payee before acceptance by the Director of Administration. No warrants shall be accepted by the Director of Administration which are unsigned and the Treasurer shall be responsible for all disbursements not so authorized …

Claims of officers or agents, whose duty it is to collect or account for public funds, for losses of funds in transit, by fire, burglary, or other unavoidable casualty, shall be submitted to the Director of Administration within fifteen days after such loss occurs, with all facts…

All claims arising on account of outstanding liabilities shall be filed with the Director of Administration, with the evidence pertaining thereto. If the Director of Administration shall find that such claim is valid and unpaid, he shall certify the amount due to the Governor, wh…

A true copy of all orders of the government of Guam which may originate a claim or in any manner affect the settlement of any account, shall be transmitted by the proper officer to the Director of Administration. SOURCE: GC § 6106.

(a) The Governor may, when he deems it necessary and proper, create, establish and continue from appropriated funds or service fees, revolving or other special funds to be used in providing services and in maintaining such activities of the government of Guam as the purchase and …

The Director of Administration shall make a monthly report to the Governor and the Legislature of the condition of, and activity within, every fund of the Government of Guam. He shall make a monthly report to the Chairman of the Legislature’s committee which oversees the Tourist …

Information. All banks receiving government funds for deposit in a government bank account established at said bank shall provide “READ ONLY” access to such bank accounts via said bank’s on- line banking website or via electronic access via other access source provided to the Dep…

Such forms as may be required from time to time for the proper conduct of business and relating to the system of accounting shall be prepared under the direction of the Director of Administration, subject to the approval of the Governor. SOURCE: GC § 6111.

There is hereby created, separate and apart from the other funds of the government of Guam, a fund known as the “Health And Human Services Fund” (‘HAHS Fund’).

The HAHS Fund shall not be commingled with the General Fund and shall be kept in a separate bank account. The Governor, pursuant to any of his transfer authority, shall transfer no monies from the HAHS Fund.

The HAHS Fund shall be expended by Legislative appropriation as follows: (1) seventy-five percent (75%) to finance various health care programs and projects, and other educational programs for tobacco prevention; and (2) Twenty-five percent (25%) to finance advance technological …

The Director of Administration shall account for, and administer, the HAHS Fund. The Director shall keep all books, records, files and account of the HAHS Fund. The Director shall prepare semi-annual reports relative to the HAHS Fund reflecting the transactions and financial cond…

Rules and Regulations. (a) Designation. The Department of Public Health and Social Services (‘DPHSS’) is hereby designated as the ‘single agency’ for Guam resulting from the Federal settlement. The DPHSS shall be charged with the following responsibilities: (1) maintaining a lice…

(a) The Director of DPHSS is hereby authorized to employ the services of two (2) new investigative/administrative staff positions to make the required inspections, reports and for the purpose of implementing the Department’s responsibilities as prescribed in § 221005 of this Arti…