Title 12 — Autonomous Agencies
37 chapters · 1,201 sections in this title.
12 GCA § 68101 Short Title
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This Chapter shall be known as the Guam Economic Development Authority Hospital Facilities Finance Act. SOURCE: GC §53608, as added by P.L. 12-69.
12 GCA § 68102 Definitions
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COL120106 As used or referred to in this Chapter, the following words and terms shall have the following meanings, unless the context clearly indicates otherwise: (a) Board means the Board of Directors of the Guam Economic Development Authority. (b) Bonds or notes means the reven…
12 GCA § 68103 Additional Powers of the Board
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In addition to all powers heretofore or hereafter conferred upon it by law, the Board shall have the power and is hereby authorized: (a) To incur indebtedness, and to issue bonds or notes therefor, as provided in this Chapter, in order to finance and refinance, acquire, construct…
12 GCA § 68104 Criteria and Requirements
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In undertaking any hospital facilities pursuant to this Chapter the Board shall be guided by and shall observe the following criteria and requirements; provided that the determination of the Board as to its compliance with such criteria and requirements shall be final and conclus…
12 GCA § 68105 Additional Powers of Public Agencies
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For the purposes of this Chapter, public agencies are authorized and empowered to enter into contracts and agreements, including agreements of lease, with the Board to facilitate the financing, acquiring, constructing, equipping, providing, operating and maintaining of hospital f…
12 GCA § 68106 Procedural Requirements
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COL120106 In addition to hospital facilities initiated by the Board, any public or nonprofit agency may submit to the Board, and the Board may consider a proposal using such forms and following such instructions as may be prescribed by the Board for financing hospital facilities.…
12 GCA § 68107 Operation of Hospital Facilities; Agreements of Lease;
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Conveyance of Hospital Facilities to Lessee. All hospital facilities shall be operated to serve and benefit the general public and there shall be no discrimination against any person based on race, creed, color or national origin. The Board may lease any hospital facilities to a …
12 GCA § 68108 Construction Contracts
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Contracts for the construction of any project, or any part thereof, may be awarded by the Board in such manner as in its judgment will best promote free and open competition, including advertisement for competitive bids in a newspaper of general circulation in Guam provided, howe…
12 GCA § 68109 Credit of Territory Not Pledged
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Bonds or notes issued under the provisions of this Chapter shall not be deemed to constitute a debt, liability or obligation of the Territory or of any political subdivision thereof or a pledge of the faith and credit of COL120106 the Territory or of any such political subdivisio…
12 GCA § 68110 Bonds and Notes
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The Board is hereby authorized to provide for the issuance, at one time or from time to time, of bonds or notes in anticipation of the issuance of bonds, useful or necessary in carrying out and effectuating the purposes provided in the indenture authorizing the issuance of such b…
12 GCA § 68111 Covenants and Agreements That May be Contained in the
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Indenture. COL120106 Bonds or notes may be issued in accordance with the provisions of this Chapter pursuant to an indenture approved or adopted by the Board and approved as well by the Governor and the Legislature by resolution. Such indenture, which may be secured by a trust ag…
12 GCA § 68112 Revenues; Pledges of Revenues
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(a) The Board is hereby authorized to fix and to collect fees, rents and charges for the use of any hospital facilities, and any part or section thereof, and to contract with any public or nonprofit agency for the use thereof. The Board may require that the lessee or users of any…
12 GCA § 68113 Federal Reserve Member Bank as Trustee for Board and
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Holders of Bonds. (a) A Federal Reserve member bank shall act as trustee for the Board and the holders of bonds issued hereunder, and the Board may authorize the trustee to act on behalf of the holders of the bonds, or any stated percentage thereof, and to exercise and prosecute …
12 GCA § 68114 Trust Funds
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Notwithstanding any other provisions of law to the contrary, all moneys received pursuant to the authority of this Chapter, including, without limitation, fees, rents, charges, insurance proceeds, condemna- tion awards and any other revenues and funds received in connection with …
12 GCA § 68115 Remedies
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COL120106 Any holder of bonds or notes issued under the provisions of this Chapter or any coupons appertaining thereto, and the trustee under any indenture authorizing the issuance of such bonds or notes, except to the extent the rights herein given may be restricted by such inde…
12 GCA § 68116 Negotiable Instruments
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Notwithstanding any of the foregoing provisions of this Chapter or any recitals in any bonds or notes issued under the provisions of this Chapter, all such bonds or notes and interest coupons appertaining thereto shall be and are hereby made negotiable instruments under the laws …
12 GCA § 68117 Bonds or Notes Eligible for Investment
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Bonds or notes issued under the provisions of this Chapter are hereby made securities in which all public officers and public bodies of the Territory and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, a…
12 GCA § 68118 Refunding Bonds or Notes
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The Board is hereby authorized to provide pursuant to an indenture for the issuance of refunding bonds or notes for the purpose of refunding any bonds, notes or other forms of indebtedness then outstanding which COL120106 shall have been issued by a nonprofit or public agency for…
12 GCA § 68119 Officers Not Liable
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No member or officer of the Board shall be subject to any personal liability or accountability by reason of his execution of any bonds or notes or the issuance thereof. COL120106 SOURCE: GC §53608.18, as added by P.L. 12-69.
12 GCA § 68120 Tax Exemptions
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Bonds issued pursuant to the provisions of this Chapter and the interest or income therefrom are exempt from taxation in accordance with the provisions of the last sentence of § 11 of the Organic Act. The exercise of the powers granted by this Chapter will be in all respects for …
12 GCA § 68121 Conflict of Interest
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If any member, officer or employee of the Board shall be interested either directly or indirectly, or shall be an officer or employee of or have an ownership interest in any firm or corporation interested directly or indirectly in any contract with the Board, such interest shall …
12 GCA § 68122 Additional Method
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The foregoing sections of this Chapter shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation…
12 GCA § 68123 Liberal Construction
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This Chapter, being necessary for the health and welfare of the people of the Territory, shall be liberally construed to effect the purposes thereof. COL120106 SOURCE: GC §53608.22, as added by P.L. 12-69.
12 GCA § 68124 Inconsistent Laws Inapplicable
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Insofar as the provisions of this Chapter are inconsistent with the provisions of any general or special laws, or parts thereof, the provisions of this Chapter shall be controlling. SOURCE: GC §53608.23, as added by P.L. 12-69.
12 GCA § 68125 Publication of Notice of Adoption of Resolution; Statute of
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Limitations on Actions Involving Bonds. Within fifteen (15) days of the adoption of a resolution by the Board constituting an indenture providing for the issuance of bonds under this Chapter, the Board shall publish notice of adoption of the resolution, stating the aggregate prin…