Title 12 — Autonomous Agencies
37 chapters · 1,201 sections in this title.
12 GCA § 8210 Covenants and Agreements That May be Contained in Indenture
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An indenture pursuant to which bonds are issued and which is approved by legislation may include any and all such covenants and agreements on the part of the Authority, the Board, Guam, I Maga’håga/Maga’låhi, the Director of Administration, the Treasurer, the General Manager or a…
12 GCA § 8211 Director of Administration as Trustee for Board and Holders of Bonds
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(a) The Director of Administration or any agent designated by him 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…
12 GCA § 8212 Duties and Powers of Trustee
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The Board shall prescribe in any indenture the duties and powers of the trustee with respect to the issuance, authentication, sale and delivery of the bonds provided for in such indenture and with respect to the payment of principal of and interest on such bonds, the redemption t…
12 GCA § 8213 Issuance and Interchange of Coupon and Registered Bonds
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An indenture may provide that bonds may be issued as coupon bonds or as registered bonds and for the interchange of coupon bonds for registered bonds and registered bonds for coupon bonds, and may provide that bonds shall be registered as to principal only or as to both principal…
12 GCA § 8214 Interest on Bonds
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(a) Bonds shall bear interest at a net rate of not to exceed nine percent (9%) per annum, after subtracting from bond interest the amount of any direct subsidy payment to be received from the United States in connection with such Bonds. Interest shall be payable annually or semi-…
12 GCA § 8215 Redemption of Bonds Prior to Maturity
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An indenture may provide that bonds may be redeemed prior to maturity upon such terms, conditions and upon such notice as are stated in the indenture and upon the payment of such premium as may be fixed by the indenture. No bond is subject to call or redemption prior to its fixed…
12 GCA § 8216 Places of Payment
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An indenture may provide for the payment of the principal and interest of bonds at any one or more places in Guam or in the United States and in any specified coin or currency of the United States. SOURCE: GC § 21565. 2023 NOTE: Reference to “Territory” replaced with “Guam” pursu…
12 GCA § 8217 Execution and Authentication of Bonds
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An indenture may provide for the execution and authentication of bonds by the manual, lithographed or printed facsimile signature of any one or more officers of the Board and by additional authentication by endorsement by the manual signature or a signature stamp of the Director …
12 GCA § 8218 Dates and Maturities of Bonds
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Bonds shall bear dates prescribed by the Board in the indenture providing for their issuance. Bonds may be serial bonds, term bonds or sinking fund bonds with such maturities as the indenture shall specify. No bond by its terms shall mature in more than fifty (50) years from its …
12 GCA § 8219 Preparation of Bonds and Documents by Treasurer
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Whenever an indenture, adopted by the Board and approved by I Maga’håga/Maga’låhi, directs the preparation of any bonds authorized under this Article, the Treasurer shall prepare or procure the requisite number of suitable bonds and appurtenant coupons of the denominations and in…
12 GCA § 8220 Sale of Bonds; Maximum Discount
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Bonds authorized to be issued under this Article shall be sold by the Board for cash, in accordance with the provisions of a resolution providing for such sale adopted by the Board and approved by I Maga’håga/Maga’låhi. Such resolution may provide that the bonds shall be sold at …
12 GCA § 8221 Payment of Bonds from Sources Other Than Revenues
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The Board may use and expend all or any part of any funds other than revenues or proceeds of any property owned by it other than the system, whether received by gift, appropriation or otherwise (if not restricted as to the use of such funds or proceeds of property by the terms of…
12 GCA § 8222 Payments Which May be Made Out of Proceeds of Sale of Bonds
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The proceeds of sale of any bonds may be expended for any one or more of the following purposes, all as provided in the indenture relating to such bonds: (a) For payment of any costs or expenses of the acquisition, construction or completion of the system or any part thereof or a…
12 GCA § 8223 Bonds May be Secured by Revenues of System
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An indenture may provide that the bonds and the interest thereon shall be secured by all or by part of revenues and that the bonds shall constitute such lien upon revenues as may be provided for in such indenture. SOURCE: GC § 21572.
12 GCA § 8224 Temporary Bonds
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An indenture may provide that pending the actual issuance or delivery of definitive bonds, the Board may issue temporary or interim bonds, certificates or receipts or any denomination whatsoever and with or without coupons, to be exchanged for definitive bonds when ready for deli…
12 GCA § 8225 Replacement of Bonds or Coupons
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The Board, with the approval of I Maga’håga/Maga’låhi, may provide for the replacement of lost, destroyed or mutilated bonds or coupons. SOURCE: GC § 21574. 2025 NOTE: Reference to the “Governor” replaced with I Maga’håga/Maga’låhi pursuant to 5 GCA § 1510.
12 GCA § 8226 Tax Exemptions
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Bonds issued pursuant to the provisions of this Article and the interest or income therefrom are exempt from taxation in accordance with the provisions of the last sentence of Section 11 of the Organic Act. (§1423a, Title 48, U.S. Code.) SOURCE: GC § 21575.
12 GCA § 8227 Bonds as Legal Investments and as Security for Performance of Any Act
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Notwithstanding any other provision of law, all bonds sold and delivered pursuant to the provisions of this Article are legal investments for all trust funds and for the funds of all banks, both commercial and savings and may be deposited as security for the performance of any ac…
12 GCA § 8228 Refunding Bonds
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The Board, with the approval of I Maga’håga/Maga’låhi, may provide for the issuance, sale or exchange of refunding bonds for the purpose of redeeming or retiring any bonds issued under the provisions of this Article. All provisions of this Article applicable to the issuance of bo…
12 GCA § 8229 Principal Amount in Which Refunding Bonds May be Issued
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Refunding bonds may be issued in a principal amount sufficient to provide funds for the payment of all bonds to be refunded thereby and in addition for the payment of all expenses incident to the calling, retiring or paying of such outstanding bonds and the issuance of such refun…
12 GCA § 8230 Bonds Negotiable Except When Registered
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All bonds issued under the provisions of this Article are negotiable instruments, except when registered in the name of a registered owner. SOURCE: GC § 21579.
12 GCA § 8231 Title in Authority Subject to Trust in Favor of Bondholders
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Title to the system and to all property acquired by or for the Authority and the revenues and income therefrom is in the Authority. The title to any moneys, revenues, bond reserve funds and other funds and accounts created by this Article or any indenture and the income thereof p…
12 GCA § 8232 Use of Other Funds for System
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In addition to the proceeds of any bonds issued and sold pursuant to this Article, the Board may use for the payment of the costs of acquisition, construction or completion of the system or any part thereof any available money or funds of the Authority and any money or funds made…
12 GCA § 8233 Insurance
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The Board may insure against loss of revenues from any cause whatsoever and the proceeds of any such insurance shall be used solely for the payment of bonds and the interest thereon. The Board may insure against public liability or property damage from any cause. An indenture may…
12 GCA § 8234 Limitations as to Competitive Projects
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An indenture may include such limitations as to acquisition, ownership or operation by the Authority or the Board of projects which may compete with the system as may be deemed necessary or desirable for the security of bonds issued pursuant to this Article. SOURCE: GC § 21583.
12 GCA § 8235 Right of Bondholders to Bring Action
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The holder of any bond issued pursuant to this Article may by mandamus or other appropriate proceeding require and compel the performance of any of the duties imposed upon or assumed by the Authority, the Board, the Treasurer, the General Manager, I Maga’håga/Maga’låhi, the Direc…
12 GCA § 8236 Guam Power Authority Construction Fund
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The proceeds from the sale of all bonds authorized by this Article shall be deposited forthwith by the Treasurer to the credit of a fund to be designated as the Guam Power Authority Construction Fund, which fund is hereby created. The money in said Construction Fund shall be expe…
12 GCA § 8237 Guam Power Authority Revenue Fund
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All revenues received from the operation of the system shall be deposited by the Treasurer to the credit of the Guam Power Authority Revenue Fund, which fund is hereby created. Moneys in the Guam Power Authority Revenue Fund shall be used for the following purposes in the followi…
12 GCA § 8238 Investment of Money in Funds
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Moneys in the Guam Power Authority Construction Fund may be invested by the Treasurer and any revenues in any other fund or account held by the Treasurer or by the Director of Administration or his agent may be invested by the Treasurer or Director of Administration or his agent,…
12 GCA § 8239 Use of Balances of Funds and of Surplus Money in Funds
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Any balance remaining in any of the funds or accounts created by this Article or any indenture after payment of all costs, expenses and charges required or authorized to be expended therefrom, may be allocated and used for such other purposes relating to the acquisition, construc…
12 GCA § 8240 Appropriation of Money in Funds
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All money in the funds and accounts created by this Article or any indenture is hereby appropriated for expenditure in carrying out the purposes herein and therein provided. SOURCE: GC § 21589.
12 GCA § 8241 Short Term Borrowing
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The Board may at any time or from time to time, by resolution adopted by a majority of all the members of the Board and approved by I Maga’håga/Maga’låhi, incur indebtedness for any lawful purpose for any period not exceeding five (5) years evidenced by contract with any person o…
12 GCA § 8242 Construction of Article
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This Article shall be liberally construed to carry out the objects and purposes and the declared policy of Guam as in this Article set forth. Nothing contained in this Article shall be construed directly or by implication to be in any way in derogation or limitation of powers con…
12 GCA § 8243 Approval of the Terms and Conditions of Guam Power Authority Revenue Bonds
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I Liheslaturan Guåhan, pursuant to § 50103(k) of Title 12 of the Guam Code Annotated, hereby approves the terms and conditions of the issuance and sale of revenue bonds (the bonds), from time to time, by the Guam Power Authority (GPA), in one or more series or issues of tax-exemp…
12 GCA § 8244 Self-Insurance Fund Surcharge Reduction
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The GPA shall file a petition with the Guam Public Utilities Commission to reduce the GPA’s Self- Insurance Fund surcharge charged to ratepayers by not less than seventy percent (70%) of the Self- Insurance Fund surcharge in effect as of the enactment of this Act. GPA shall reque…
12 GCA § 8245 Approval of Financial Agreements or Arrangements
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Any financial agreement or arrangement between GPA and any bank, private banking firm, brokerage firm, bond brokerage firm, or similar financial institutions, which uses, pledges, or arbitrages any GPA revenue, trust funds, debt service payment deposits with trustees, bond procee…
12 GCA § 8301 Title
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This Article shall be known as the Alternate Energy Plan for Guam Act. SOURCE: Added by P.L. 17-077 (Dec. 11, 1984).
12 GCA § 8302 Findings
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The findings of the Seventeenth Guam Legislature are that: (a) P.L. 16-119 requires the Guam Power Authority to prepare a Ten Year Alternate Energy Plan for Guam, and that the Governor I Maga’håga/Maga’låhi shall forward said plan to the Legislature to be considered for codificat…
12 GCA § 8303 Adoption of U.S. Department of Energy’s Territorial Energy Assessment Final Report
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The U.S. Department of Energy’s Territorial Energy Assessment-Final Report is hereby adopted as an integral part of the Comprehensive Development Plan for Guam, the latter is hereby adopted as the official guideline for alternate energy development for Guam by the Seventeenth Gua…
12 GCA § 8304 I Maga’håga/Maga’låhi’s Powers
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I Maga’håga/Maga’låhi is hereby authorized to proceed with development of a long term energy plan for Guam and to develop alternate energy sources without legislative approval by itself or in conjunction with Guam Power Authority or private companies, to the extent that those alt…
12 GCA § 8305 Coordination, Guam Energy Office
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The Guam Energy Office, in coordination with other appropriate government agencies, shall coordinate the development of conventional energy resources and alternate energy resources outlined in the Ten Year Alternate Energy Plan for Guam, which plan is hereby included as an elemen…
12 GCA § 8306 I Liheslatura’s Policy
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I Liheslatura supports, in principle, the development of alternate energy, but is concerned that the alternate energy program not be a burden upon the taxpayers, power consumers, and residents of Guam. Therefore, I Maga’håga/Maga’låhi, the government of Guam and the Guam Power Au…
12 GCA § 8307 Provision of Land/Easement
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The Power of Eminent Domain (condemnation) shall not be used by the government of Guam or the Guam Power Authority to provide land for alternate energy sources or to provide land to lease to alternate energy suppliers. It shall be the exclusive responsibility of the alternate ene…
12 GCA § 8308 Leased Government Land
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If the government of Guam or the Guam Power Authority leases any land belonging to the government of Guam or the Guam Power Authority for alternate energy to private alternate energy suppliers for alternate energy related purposes, such lease shall be for the full fair market ren…
12 GCA § 8309 Purchase of Alternate Energy
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In the event that the Guam Power Authority or I Maga’hågan/Maga’låhen Guåhan determines that purchase of alternate energy from private developers or development of any alternate energy source which does not comply with the guidelines of the Act is feasible and in the best interes…
12 GCA § 8310 Expenditure of Exxon Funds
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The Guam Energy Office and I Maga’hågan/Maga’låhen Guåhan shall submit a program plan to I Liheslatura for approval prior to spending any funds received from or pursuant to U.S. Public Law 97-377 Section 155, the Court Case of U.S. v. Exxon (TECA) Nos. 91-100 (Consolidated) and t…
12 GCA § 8311 Renewable Portfolio Standards
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The Guam Power Authority shall establish a preliminary renewables portfolio standard goal of: (a) five percent (5%) of its net electricity sales by December 31, 2015; (b) fifty percent (50%) of its net electricity sales by December 31, 2035; and (c) one hundred percent (100%) of …
12 GCA § 8312 Same
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The Guam Power Authority shall undertake all interconnection requirements or outsourcing agreements, including, automatic generation control, subject to the Guam Power Authority’s interconnection policy, so as to provide for the maximum feasible ability to add renewable resources…
12 GCA § 8401 Legislative Findings and Intent
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I Liheslaturan Guåhan finds that Guam Power Authority (GPA) is faced with attempting to recover millions of dollars in lost revenue resulting from unauthorized electrical connections, or illegal hook-ups. The problem has manifested itself in various forms, perpetrated by not only…
12 GCA § 8402 Definition of Unauthorized Electrical Connections or Illegal Power Hook-Ups
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An illegal power hook-up is any connection to power lines which belong to the government of Guam, that is made without the prior written permission of the Guam Power Authority, or any power hook-up from a direct power line which bypasses or hinders meter registration. The conditi…