Title 10, Health and Safety

The government 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 redempt…

An indenture may provide that bonds may be issued as bearer bonds or as registered bonds and for the interchange of bearer bonds for registered bonds and registered bonds for bearer bonds, and may provide that bonds shall be registered as to principal only or as to both principal…

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.

An indenture may provide for the payment of the principal and interest of bonds at any one (1) or more places in Guam or in the United States and in any specified coin or currency of the United States.

An indenture may provide for the execution and authentication of bonds by the manual or facsimile signature of any one (1) or more officers of the government and by additional authentication by endorsement by the manual signature or a signature stamp of any one (1) or more office…

Bonds shall bear dates prescribed 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 more than fifty (50) years after its date of issuanc…

Bonds authorized to be issued under this Article shall be sold for cash, in accordance with the provisions of a certificate or agreement executed by I Maga’hågan/Maga’låhen Guåhan. The bonds may be sold at either public or private sale, and upon such terms and conditions as shall…

The government may use and expend all or any part of any funds other than pledged revenue or proceeds of any property owned by it other than the system, whether received by gift or appropriation (if not restricted as to the use of such funds or proceeds of property by the terms o…

The proceeds of sale of any bonds may be expended for any one (1) 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 improvement of the system or any part thereof…

(a) An indenture may provide that payment of the bonds and the interest thereon shall be secured by a pledge of and lien upon all or any portion of the revenue of the system, subject to any parity lien created or to be created pursuant to Article 9 of this Chapter. (1) Any such p…

(a) If and to the extent determined by I Maga’hågan/Maga’låhen Guåhan, all or any part of the revenues derived by the government of Guam under Section 30 of the Organic Act (Section 30 revenue) may be pledged to secure the payment of any bonds issued pursuant to this Article, sub…

(a) If and to the extent determined by I Maga’hågan/Maga’låhen Guåhan, the bonds authorized by this Article shall constitute the valid and binding general obligations of the government of Guam, in addition to any applicable pledge of the revenues described in Title 10, Guam Code …

An indenture may provide that pending the actual issuance or delivery of definitive bonds, the government may issue temporary or interim bonds, certificates or receipts or any denomination whatsoever, to be exchanged for definitive bonds when ready for delivery.

The government may provide for the replacement of lost, destroyed or mutilated bonds.

Bonds issued pursuant to the provisions of this Article and the interest or income therefrom are exempt from taxation to the extent permitted by the provisions of Section 11 of the Organic Act.

Notwithstanding any other provision of law, all bonds issued 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 act whenever …

I Maga’hågan/Maga’låhen Guåhan may, on behalf of the government, provide for the issuance, sale or exchange of refunding bonds for the purpose of retiring indebtedness or other obligations issued to finance all or any portion of the system. All provisions of this Article applicab…

In addition to the proceeds of any bonds issued and sold pursuant to this Article, the Department may use for the payment of the costs of acquisition, construction or improvement of the system or any part thereof any available money or funds of the Department and any money or fun…

The Department may insure against loss of revenue of the system from any cause whatsoever. The Department may insure against public liability or property damage from any cause. An indenture, lease or other instrument may provide for the carrying of such insurance or any other ins…

The government of Guam is fully committed to ensuring that the Department has the ability to implement the capital improvements authorized to be paid by this legislation in order to meet the needs of Guam ratepayers for reliable and affordable services. The government also is ful…

The proceeds from the sale of all bonds authorized by this Article shall be deposited to the credit of a Construction Account, which account is hereby created within the Solid Waste Operations Fund. The money in the account shall be expended in the manner provided by law for any …

All revenue of the system and, to the extent provided by an indenture or by Article 9 of this Chapter, the Section 30 revenue, shall be deposited to the credit of the applicable subaccount of the Revenue Account, which account is hereby created within the Solid Waste Operations F…

Moneys in the Revenue Account and Construction Account in the Solid Waste Operations Fund may be invested by the government or the trustee under any indenture, as the case may be, in any investment authorized by any indenture providing for the issuance of bonds. All interest or o…

Any balance remaining in any of the funds or accounts created by this Article or any indenture, including the Construction Account established pursuant to Title 10, Guam Code Annotated, § 51A832, after payment of all costs, expenses and charges required or authorized to be expend…

All money in the funds and accounts created by this Article or any indenture is hereby continuously appropriated for expenditure to carry out the purposes herein and therein provided.

(a) I Maga’hågan/Maga’låhen Guåhan is hereby authorized to enter into such contracts or agreements, on behalf of the government, with such banks, insurance companies or other financial institutions as I Maga’hågan/Maga’låhen Guåhan determines are necessary or desirable to improve…

Neither I Maga’hågan/Maga’låhen Guåhan, the Director, any employee of the Department, any employee of the government nor any elected official of the government shall be individually or personally liable for the payment of any amounts due on any bonds, or for any other liability a…

Notwithstanding any substantive or procedural provision of Chapter 6 of Title 5, Guam Code Annotated, the government shall not be entitled to immunity from any suit or action in contract on the indebtedness authorized by this Article. For the purposes of this Act only, immunity i…

This Article shall be liberally construed to carry out the objects and purposes and the declared policy of the government of Guam as in this Article set forth. Nothing contained in this Article shall be construed COL 2025-12-23 directly or by implication to be in any way in derog…

Section 50103(k), Title 12, Guam Code Annotated, provides that agencies and instrumentalities of the Government of Guam shall issue bonds and other obligations only by means of and through the agency of the Guam Economic Development Authority (GEDA). No issue of bonds authorized …

Notwithstanding §§ 16311 and 16312 of Title 3, Guam Code Annotated, the issuance of the bonds authorized by this Section shall not be required to be subject to the approval of, or placed before, the voters of Guam. SOURCE: Amended by P.L. 31-255:3(e) and (f) (Dec. 12, 2012).

Bonds authorized pursuant to this Article 8 shall only be issued if the Income Tax Refund – Cola Deficit Financing Bonds authorized in 5 GCA § 1512.1 are also issued at the same time or earlier. ARTICLE 9 SOLID WASTE MANAGEMENT SYSTEM LEASE FINANCING SOURCE: Added by P.L. 30-001:…

This Article may be cited as the Guam Solid Waste Management System Lease Financing Act. The purpose of this Article is to authorize the use of lease financing in addition to, in lieu of, or in conjunction with the use of bond financing pursuant to Article 8 of this Chapter, in o…

The following terms wherever used or referred to in this Article or in any indenture, lease or lease- back entered into pursuant hereto (except to the extent modified therein in accordance with this Article) shall have the following meanings, respectively, unless a different mean…

(a) I Maga’hågan/Maga’låhen Guåhan may enter into a lease and lease-back on behalf of the Department for the financing of the acquisition, construction, improvement, equipping, repair, renewal, replacement, or reconstruction of any solid waste facility, together with operation an…

Subject to the approval of I Liheslaturan Guåhan, the government of Guam or the Department may solicit proposals, in compliance with the Guam Procurement Law, for the financing and construction of the solid waste facility, together with the operation and maintenance of the solid …

Notwithstanding any provision of law or regulation, the Department has power and is hereby authorized, in addition to all other powers conferred upon the Department by the Guam Solid Waste Management and Litter Control Act or any other provision of this Chapter or by any law of G…

To facilitate the purposes of this Article and to provide security for the bondholders, the contractor may assign, with the consent of the Department, the lease and the lease-back to any trustee, underwriter or other appropriate party as may be necessary to facilitate the issuanc…

To minimize the financing cost to the Department, all financing utilized by the contractor to fund the construction, operation and maintenance of a solid waste facility shall be through tax-exempt obligations, if a mechanism to do so is available. The purpose for this requirement…

A lease-back shall provide that payment of obligations thereunder may be secured by a pledge of and lien upon all or any portion of the revenue of the system, subject to any parity lien created pursuant to Article 8 of this Chapter. Any such pledge and lien shall be valid and bin…

The government of Guam is fully committed to ensuring that the Department has the ability to implement the capital improvements authorized to be leased by this legislation in order to meet the needs of Guam ratepayers for reliable and affordable services. The government also is f…

Facility. The lease-back may require that the contractor be responsible for all costs, expenses and fees of any kind or nature, associated with the improvements, on-site infrastructure, construction, permits and financing associated with the completion of a solid waste facility, …

I Maga’hågan/Maga’låhen Guåhan is hereby authorized to enter into such contracts or agreements, on behalf of the Department, with such banks, insurance companies or other financial institutions as it determines are necessary or desirable to improve the security and marketability …

Neither I Maga’hågan/Maga’låhen Guåhan, the Director, any employee of the Department, any employee of the government nor any elected official of the government shall be individually or personally liable for the payment of any amounts due under any lease or lease-back, or for any …

The Department may promulgate rules and regulations pursuant to Guam law necessary to implement the provisions of this Article. COL 2025-12-23

This Article shall be liberally construed to carry out the objects and purposes and the declared policy of the government 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 limita…