Title 5, Government Operations

Upon request, the Director shall advise in the establishment of records management programs in the Legislative and Judicial Branches of government. SOURCE: GC § 6705.

All records made or received by or under the authority of or coming into the custody, control, or possession of public officials of this government in the course of their public duties are property of the government and shall not be destroyed, transferred, removed, or otherwise d…

Records may be destroyed or disposed of in accordance with the provisions of this Article if it is determined by the Director, the Attorney General and the agency head concerned that such records have no further legal, administrative, fiscal, research, or historical value. SOURCE…

(a) The head of any agency having the care and custody of any record may cause the same to be photographed, microphotographed, or otherwise reproduced on film or in computerized form. When such head so establishes computerized storage of records and papers not originally kept in …

Non-record materials, if not otherwise prohibited by law, may be destroyed at any time by the agency in possession of such materials without the prior approval of the Director. The Director may formulate procedures and interpretations to guide in the disposition of such materials…

The Director shall, subject to the approval of the Governor and promulgation by Executive Order, make such rules and regulations as are necessary or proper to effectuate the purposes of this Article. SOURCE: GC § 6710. ----------

The Director of Administration shall at such times as he deems necessary determine, in accordance with the provisions of this Chapter, whether any portion of the money in the General Fund of the Treasury of Guam is not necessary for the immediate use of the government of Guam, an…

The Governor of Guam may, from time to time, designate as available investment money those accounts which the Director of Administration shall determine are not necessary for immediate use. COL1242015 SOURCE: GC § 6301.

Any money in the General Fund or Special Funds of the Treasury of Guam in excess of 120% of the average monthly disbursements made from the General Fund for the 12-month period immediately preceding may be declared available investment money. Money not in excess of the above perc…

The Director of Administration, with the written approval of the Governor, may invest such available investment money, as defined in this Chapter, in United States bonds, United States interest-bearing notes, or other United States obligations, and to the extent to which such sha…

Securities purchased or held under the provisions of this Chapter may be sold or exchanged for other securities and the money received from any security sale may be reinvested as provided herein for investments; provided, however, it shall be the duty of the Director of Administr…

No sale or exchange or securities held under the provisions of this Chapter shall be made at a price less than the market price of the securities to be sold or exchanged. SOURCE: GC § 6305. COL1242015

Interest, premiums, and income in any form derived from any securities purchased, held or sold under this Chapter shall be credited to the General Fund of the Treasury of Guam. SOURCE: GC § 6306.

Any money declared to be available under the provisions of this Chapter shall remain such and be available for investment any time within 60 days thereafter, and may be held invested, even though subsequent disbursements from the General Fund may reduce the non- invested General …

In accordance with [United States] P.L. 88-170, as amended, providing for the rehabilitation of Guam, the government of Guam is authorized to make certain loans from the Federal Government. Pursuant to the provisions of said Act, the government of Guam has made, and will in the f…

Money of the General Fund as used in this Chapter shall mean and include those monies of the General Fund of the Treasury of Guam which have not been disbursed, though they may have been appropriated or committed in any other manner. Money of a Special Fund as used in this Chapte…

(a) The Director of Administration may direct that any monies belonging to, and under the control of, the government of Guam, in the hands of the Treasurer shall be deposited to the credit of the government in eligible banks. Any sum so deposited is deemed to be in the Treasury o…

As used in this Chapter, eligible bank shall mean any bank organized and operating under the National Banking Laws as a national bank and approved by the Director of Administration; any bank or territorial bank organized under the laws of any state or territory of the United Stat…

The Director of Administration shall determine what amounts of money shall be deposited as inactive deposits, and as active deposits. SOURCE: GC § 6312.

COL1242015 Deposits or investment certificates insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation do not require further security. To be eligible to receive or retain other active or inactive deposits, an eligible bank shall…

The Director of Administration, the Treasurer of Guam, or any other official of the government of Guam, shall not be responsible for any money deposited in any bank pursuant to this Chapter, and while it remains so deposited. SOURCE: GC § 6314.

(a) Upon audit caused by the Director of Administration, the amounts of all government of Guam checks or drafts which shall have been unclaimed or outstanding for more than one year from the respective dates thereof, shall be accounted for separately and a record made of each suc…

Valuable Property. The officials or employees of the government of Guam shall be held personally responsible and accountable for any monies, grants, grants-in- aid, assistance-in-kind or any valuable property received or accepted from any grantee, donor or contributor, public or …

On or before July 1, 1975, each department, agency and instrumentality of the government of Guam which operates or manages any program or supervises any agency of the Government without statutory authorization, shall report the same to the Legislature and to the Governor of Guam,…

Working in Unauthorized Programs or Agencies of the Government. After September 1, 1975, no employee of any department, agency or instrumentality of the government of Guam who receives his salary in whole or in part from any program or from any department, agency or instrumentali…

The Drivers Education fund is appropriated to the Department of Education for expenditure for safe driving instruction in the public schools. SOURCE: GC § 6319 added by P.L. 16-111:II:19. 2009 NOTE: P.L. 28-045:10 (June 6, 2005) changed the name of the Department of Education to …

Unless the context otherwise requires, the terms defined in THIS Section shall for all purposes of THIS Indenture, and of any indenture supplemental hereto and of any certificate, opinion or other document herein mentioned, have the meanings herein specified, to be equally applic…

Every certificate or opinion provided for in THIS Indenture with respect to compliance with any provision hereof shall include (1) a statement that the person making or giving such certificate or opinion has read such provision and the definitions herein relating thereto; (2) a b…

If the Government shall pay and discharge the entire indebtedness on all Bonds Outstanding in any one or more of the following ways: (A) by paying or causing to be paid the principal or Redemption Price of and interest on Bonds Outstanding, as and when the same become due and pay…

Upon the deposit with the Trustee, in trust, at or before maturity, of money or securities in the necessary amount (as provided in § 10.03) to pay or redeem any Outstanding Bond (whether upon or prior to its maturity or the redemption date of such Bond), then all liability of the…

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…