Title 12 — Autonomous Agencies
37 chapters · 1,201 sections in this title.
12 GCA § 52101 Agricultural Development Fund
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There is hereby established a special fund called the Agricultural Development Fund, hereinafter referred to as the Fund, which shall be maintained separate and apart from any other funds of the Guam Economic Development Authority, and independent records and accounts shall be ma…
12 GCA § 52102 Same: Source of Moneys
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The Fund shall consist of all moneys appropriated by the government of Guam or received from the United States Government or any agency thereof, or form any other source for the administration of this Chapter, or from any person or organization as compensation for services render…
12 GCA § 52103 Same: Use of Fund Moneys
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The moneys in the Fund are to be used by the Guam Economic Development Authority as part of a joint program with the Department of Agriculture to aid in the development or subsidization of poultry, pork COL120106 and beef production, agricultural products, processing plants and e…
12 GCA § 52104 Procedure
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The program will proceed in two (2) directions: (a) Direct loans to individuals as approved by the Department of Agriculture. (b) The organization of separate agricultural corporations to be jointly managed by the Guam Economic Development Authority and the Department of Agricult…
12 GCA § 52105 Responsibilities
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It shall be the responsibility of the Guam Economic Development Authority to (a) provide the needed funds, (b) provide financial and business management, (c) organize and direct marketing activities. It shall be the responsibility of the Department of Agriculture to (a) select an…
12 GCA § 52106 Use of Funds
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Funds will be advanced to whatever entity is involved for the purpose of purchasing poultry, hogs, cattle, supplies, feed, etc., all related to poultry, hog or beef production; leasing and purchasing of equipment; establishing and developing agriculture, aquaculture, horticulture…
12 GCA § 52106.1 From the Agricultural Development Fund
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The Guam Economic Development Authority shall make direct loans to and guarantee loans of responsible non-profit cooperative associations and individual farmers necessary for expanding facilities for the improvement of marketing of agriculture products and other related agricultu…
12 GCA § 52106.2 Criteria and Requirements
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In undertaking any such loan, the Board of Directors shall be guided by and shall observe the following criteria and requirements; provided, that the determination by the Board of Directors as to its compliance with such criteria and requirements shall be final and conclusive: (1…
12 GCA § 52107 Annual Reports
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An annual report shall be made jointly by the Guam Economic Development Authority and the Department of Agriculture to the Governor and the Legislature, reporting upon the progress made and containing a detailed financial analysis. SOURCE: GC § 53602. COL120106
12 GCA § 52108 Construction
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This Chapter shall be liberally construed to accomplish its purpose of aiding in the development of agriculture. SOURCE: GC § 53603. ---------- COL120106