Guam § 16138 - Short Term Borrowing.
Full text of Guam Guam Code Annotated § 16138 — Short Term Borrowing., with citation guidance and answers to common questions.
§ 16138. Short Term Borrowing.
The Board may, by a resolution adopted by a majority of all the members of the Board and approved
by I Maga’håga/Maga’låhi, incur indebtedness for any lawful purpose, and such indebtedness shall be
repaid within a period not exceeding ten (10) years as evidenced by contract terms. Any such indebtedness
shall be incurred subject and subordinate to any contractual obligation of the Board to the holders of any
bonds and the principal thereof and interest thereon may be repaid from the University of Guam’s revenues;
or if incurred for a purpose for which bonds may be issued, from the University of Guam’s revenues or
from the proceeds of sale of bonds or other debt instrument.
Frequently Asked Questions About Guam § 16138
What does Guam Code Annotated § 16138 cover?
Section 16138 ("Short Term Borrowing.") 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 § 16138?
A common citation format is "Guam Code Annotated § 16138" (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 § 16138 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.