Title 5, Government Operations

This Indenture may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original; and all such counterparts, or as many of them as the Government, the Trustee, the Depositary and the Registrar shall preserve undestroyed…

The rights and duties of the parties to this Indenture shall be governed by the laws of Guam, provided, however, that the administration of the trusts imposed upon the Trustee by the Indenture and the rights and duties of the Trustee hereunder shall be governed by, and construed …

Bonds may be issued hereunder from time to time in order to carry out the purposes of the Act as in this Indenture provided. The maximum principal amount of Bonds which may be issued hereunder is not limited; subject, however, to the right of the Government, which is hereby reser…

(A) An initial Series of Bonds to be issued under this Indenture is hereby created, and such Bonds are designated as the “Government of Guam Limited Obligation Infrastructure Improvement Bonds, 1997 Series A.” The aggregate principal amount of 1997 Series A Bonds which may be iss…

The Bonds and the form of Registrar’s certificate of authentication and registration to appear thereon shall be in substantially the forms set forth in Exhibit A hereto, respectively. with necessary or appropriate variations, omissions and insertions, as permitted or required by …

Any Bond may, in accordance with its terms, be transferred, upon the books required to be kept pursuant to the provisions of § 2.06, by the person in whose name it is registered, in person or by such registered owner’s duly authorized attorney, upon surrender of such Bond for can…

Any Bond may, in accordance with its terms, be exchanged at the Principal Office of the Registrar for a new fully registered Bond or Bonds of the same Series, maturity and tenor, of any authorized denomination or denominations and for the aggregate principal amount of such Bond t…

The Registrar will keep or cause to be kept, at its Principal Office, sufficient books for the registration and transfer of the Bonds, which shall at all times be open to inspection by the Government; and the Registrar shall provide to the Trustee a copy of such books with respec…

The person in whose name any Bond shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of or on account of the principal and Redemption Price of, and the interest on, any such Bond, shall be made only to or upon the order of…

The Bonds may be initially issued in temporary form exchangeable for definitive Bonds when ready for delivery. Any temporary Bend may be printed, lithographed or typewritten, shall be of such denomination as may be determined by the Government, shall be in registered form without…

If any Bond shall become mutilated, the Government, at the expense of the Holder of said Bond, shall execute, and the Registrar shall thereupon authenticate and deliver, a new Bond of like tenor and number in exchange and substitution for the Bond so mutilated, but only upon surr…

Notwithstanding any of the other provisions of THIS Article II to the contrary, unless otherwise provided in a Supplemental Indenture providing for the issuance of any Series of Bonds, the Bonds shall be initially issued in the form of a separate single fully registered Bond for …

The Treasurer of Guam or his designated agent, shall receive, and account for all monies, from whatever source, giving proper authenticated receipts for the same. He shall disburse monies only upon properly signed warrants. He shall maintain a daily cash blotter in which shall be…

Education’s School Districts. [Repealed.] SOURCE: Added by P.L. 24-142:9. Repealed by P.L. 26-26:13.

Both the Treasurer and his authorized agent must be bonded in penal sums as directed by the Governor. SOURCE: GC § 6101.

The official title of the Treasurer to be affixed to his official signature shall be Treasurer of Guam. SOURCE: GC § 6102.

All warrants must be properly authorized and signed by the payee before acceptance by the Director of Administration. No warrants shall be accepted by the Director of Administration which are unsigned and the Treasurer shall be responsible for all disbursements not so authorized …

Claims of officers or agents, whose duty it is to collect or account for public funds, for losses of funds in transit, by fire, burglary, or other unavoidable casualty, shall be submitted to the Director of Administration within fifteen days after such loss occurs, with all facts…

All claims arising on account of outstanding liabilities shall be filed with the Director of Administration, with the evidence pertaining thereto. If the Director of Administration shall find that such claim is valid and unpaid, he shall certify the amount due to the Governor, wh…

A true copy of all orders of the government of Guam which may originate a claim or in any manner affect the settlement of any account, shall be transmitted by the proper officer to the Director of Administration. SOURCE: GC § 6106.

(a) The Governor may, when he deems it necessary and proper, create, establish and continue from appropriated funds or service fees, revolving or other special funds to be used in providing services and in maintaining such activities of the government of Guam as the purchase and …

The Director of Administration shall make a monthly report to the Governor and the Legislature of the condition of, and activity within, every fund of the Government of Guam. He shall make a monthly report to the Chairman of the Legislature’s committee which oversees the Tourist …

Information. All banks receiving government funds for deposit in a government bank account established at said bank shall provide “READ ONLY” access to such bank accounts via said bank’s on- line banking website or via electronic access via other access source provided to the Dep…

Such forms as may be required from time to time for the proper conduct of business and relating to the system of accounting shall be prepared under the direction of the Director of Administration, subject to the approval of the Governor. SOURCE: GC § 6111.

There is hereby created, separate and apart from the other funds of the government of Guam, a fund known as the “Health And Human Services Fund” (‘HAHS Fund’).

The HAHS Fund shall not be commingled with the General Fund and shall be kept in a separate bank account. The Governor, pursuant to any of his transfer authority, shall transfer no monies from the HAHS Fund.

The HAHS Fund shall be expended by Legislative appropriation as follows: (1) seventy-five percent (75%) to finance various health care programs and projects, and other educational programs for tobacco prevention; and (2) Twenty-five percent (25%) to finance advance technological …

The Director of Administration shall account for, and administer, the HAHS Fund. The Director shall keep all books, records, files and account of the HAHS Fund. The Director shall prepare semi-annual reports relative to the HAHS Fund reflecting the transactions and financial cond…

Rules and Regulations. (a) Designation. The Department of Public Health and Social Services (‘DPHSS’) is hereby designated as the ‘single agency’ for Guam resulting from the Federal settlement. The DPHSS shall be charged with the following responsibilities: (1) maintaining a lice…

(a) The Director of DPHSS is hereby authorized to employ the services of two (2) new investigative/administrative staff positions to make the required inspections, reports and for the purpose of implementing the Department’s responsibilities as prescribed in § 221005 of this Arti…

The HAHS Fund shall not be used for any purpose other than those enumerated or reasonably inferred herein or for purposes other than those relating to health care. Specifically, the HAHS Fund shall not be used as a pledge of security or as collateral for government loans without …

(a) All monies deposited into the HAHS Fund shall be expended exclusively for the purposes enumerated in 5 GCA § 221003 and the general intent of this Act. (b) The HAHS Fund, subject to legislative approval, may be invested or reinvested in bonds or in securities that are approve…

Notwithstanding the provisions of §§ 21103, 21107 and 21110, all of Title 5 of the Guam Code Annotated, or any other provisions of Guam law to the contrary, all interest earned by the HAHS Fund shall remain within the HAHS Fund. ---------- ARTICLE 12 RESERVE FUND FOR NON- PARTICI…

(a) With respect to the appropriations by I Liheslaturan Guåhan for the operations of the Judiciary of Guam for any fiscal year, the Director of Administration shall deposit, on the last day of each month, into a bank account designated by the Judiciary, a sum from the prior mont…

(a) Cigarette smoking presents serious public health concerns to the State and to the citizens of the State. The Surgeon General has determined that smoking causes lung cancer, heart disease and other serious diseases, and that there are hundreds of thousands of tobacco-related d…

(a) “Adjusted for inflation” means increased in accordance with the formula for inflation adjustment set forth in Exhibit C to the Master Settlement Agreement. (b) “Affiliate” means a person who directly or indirectly owns or controls, is owned or controlled by, or is under commo…

Any tobacco product manufacturer selling cigarettes to consumers within the State (whether directly or through a distributor, retailer or similar intermediary or intermediaries) after the date of enactment of this article shall do one of the following: (a) become a participating …

As used in this Article: (a) Guam Allocation means all moneys payable to Guam pursuant to the MSA, without giving effect to any sale of any portion thereof. (b) Master Settlement Agreement or MSA means the settlement agreement and related documents between Guam and leading United…

Guam Economic Development Authority shall solicit through the request for proposal process for qualified and licensed investment banking firms for investment services for the purpose of selling or securitizing the Guam Allocation made under the Master Settlement Agreement entered…

Proceeds of the sale and securitization of the Guam Allocation received by the government of Guam shall be distributed in the following manner: (a) fifty percent (50%) into the Health Security Trust Fund; (b) fifteen percent (15%) into the UOG Endowment Fund; (c) fifteen percent …

(a) There is hereby created, separate and apart from other funds of the government of Guam, a fund known as the Health Security Trust Fund. The Health Security Trust Fund shall not be commingled with the General Fund and shall be kept in a separate bank account, and shall be subj…

There is hereby created, separate and apart from other funds of the government of Guam, a fund known as the ‘UOG Higher Education Endowment Fund’. The UOG Higher Education Endowment Fund shall not be commingled with the General Fund and shall be kept in a separate bank account an…

There is hereby created, separate and apart from other funds of the government of Guam, a fund known as the ‘GCC Endowment Fund.’ The GCC Endowment Fund shall not be commingled with the General Fund and shall be kept in a separate bank account and administered by the Guam Communi…

I Liheslaturan Guåhan [The Legislature] finds that education, health and safety are among the many government responsibilities whose facilities have required much improvement and expansion. As stakeholders, all of Guam’s residents, temporary visitors, and new immigrants have an i…

(a) Subject to the provisions of this Article, I Maga’lahi, [the Governor] through the Guam Economic Development and Commerce Authority (hereinafter ‘GEDCA’), may issue Compact Impact Grant Anticipation Bonds for the purposes of financing the construction, repair and refurbishing…

Compact Impact Grant Anticipation Bonds issued by GEDCA pursuant to the provisions of this Article and every contract relating to the issuance of such bonds shall provide that all financial obligations of the government of Guam in regard to the portion of the principal of and int…