Guam § 4209 - Community Affordable Housing Action Trust.

§ 4209. Community Affordable Housing Action Trust.

There is hereby established a fund to be known as the Trust,

which shall be maintained by GHC separate and apart from any

COL9/7/2021

other funds of the Government or GHC. All monies received by

GHC from the Government for funding of Interest Free Loans

provided herein shall be deposited in the Trust and shall be used

solely for that purpose. GHC shall distribute and manage the

Trust proceeds.

NOTE: P.L. 21-099:4 and 5 (Mar. 31 1992), stated:

Section 4. All unused funds previously appropriated to the

Corporation Subsidy Fund shall be transferred to the

Community Affordable Housing Action Trust.

Section 5. Interest earned on the undisbursed proceeds in the

Community Affordable Housing Action Trust and the

Foreclosure Protection Fund shall be retained by GHC to

cover its expenses in managing these funds.

P.L. 21-099:7 further stated:

Section 7. Authorization for Appropriations. (a) Four Million

Five Hundred Thousand Dollars ($4,500,000) are hereby

authorized to be appropriated from the General Fund to the

Community Affordable Housing Action Trust established in

4209 of Article 2, Chapter 4, Title 12, Guam Code

Annotated, and Five Hundred Thousand Dollars ($500,000)

are hereby authorized to be appropriated to the Foreclosure

Protection Fund established in 4214 of such Article 2, for the

purpose of carrying out the provisions of such Article 2.

(b) One Million Dollars ($1,000,000) are authorized to be

appropriated to the Government Loan Guarantee Fund

established in 4403 of Article 4, Chapter 4, Title 12, Guam

Code Annotated, for carrying out the provisions of said

Article 4.