Guam § 16119 - Health and Physical Education Complex: Authorization to Borrow.
Full text of Guam Guam Code Annotated § 16119 — Health and Physical Education Complex: Authorization to Borrow., with citation guidance and answers to common questions.
§ 16119. Health and Physical Education Complex: Authorization to Borrow.
The Board is authorized to negotiate a loan and incur such obligations as are necessary for the purpose
of funding the construction of the initial phase of the Health and Physical Education Complex.
Notwithstanding any provision of law, rule or regulation to the contrary, the Board may mortgage the Health
and Physical Education Complex in order to obtain the loan necessary for the construction of the complex.
The obligation incurred for the construction of the complex shall not be a general obligation of the
government of Guam and income generated by the Complex, if any, or from tuition and other revenues
accruing to the University of Guam, shall be pledged for repayment of the loan. Income earned by any
lending institution on interest accruing from the loan authorized under this Section shall be exempt from
income taxation. This Section does not preclude the University of Guam from accepting donation for the
construction of the initial phase of the Health and Physical Education Complex. Such donations and gifts
may be used for the purpose of repaying any obligation incurred by the University.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 16119
What does Guam Code Annotated § 16119 cover?
Section 16119 ("Health and Physical Education Complex: Authorization to Borrow.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 16119?
A common citation format is "Guam Code Annotated § 16119" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 16119 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.