Guam § 10202 - Definitions.

§ 10202. Definitions.

The following terms wherever used or referred to in this Article or

in any indenture entered into pursuant hereto (except to the extent

modified therein in accordance with any indenture), shall have the

following meanings, respectively, unless a different meaning appears

from the context:

(a) Authority means the Jose D. Leon Guerrero Commercial

Port, formerly known as/also known as the Port Authority of Guam.

(b) Board has the meaning given in 12 GCA § 10101(b).

(c) Bonds means bonds, notes or other evidences of

indebtedness, including, but not limited to, direct loans and payment

obligations of the Authority under payment agreements and credit

provider reimbursement agreements.

(d) Bondholder or holder of bonds or any similar term means

any person who shall be:

(1) the bearer of any outstanding bond or bond registered

to bearer or not registered; or

(2) the registered owner of any such outstanding bond or

bond which shall at the time be registered other than to bearer;

or

(3) the direct holder of any bond.

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(e) Credit provider means any municipal bond insurance

company, bank or other financial institution or organization which is

performing in all material respects its obligations under any credit

support arrangements for some or all of the bonds.

(f) Credit provider reimbursement agreement means any

agreement providing for the Authority to repay, from revenues,

amounts advanced by a credit provider as credit support for bonds.

(g) Credit support means a policy of insurance, a letter of

credit, a stand-by purchase agreement, revolving credit agreement or

other credit arrangement pursuant to which a credit provider

provides credit or liquidity support with respect to the payment of

interest, principal or the purchase price of any bonds.

(h) Jose D. Leon Guerrero Commercial Port Act means Article

2 of Chapter 10, Title 12, Guam Code Annotated.

(i) Indenture means an agreement pursuant to which bonds are

issued or incurred by the Authority, regardless of whether such

agreement is expressed in the form of a resolution of the Board or

by other instrument and including, without limitation, indentures of

trust, trust agreements, payment agreements and Credit provider

reimbursement agreements.

(j) Organic Act means the Organic Act of Guam, as amended,

and in effect on the effective date of this Article (48 U.S.C.A. §

1421 et seq.)

(k) Payment agreement has the meaning given such term in 12

GCA § 10236.

(l) Person includes any individual, firm, corporation,

association, partnership, trust, business trust or receiver or trustee or

conservator for any thereof, and also includes the United States,

Guam or any public corporation, political subdivision, city, county

or district or any agency or instrumentality of the United States or of

Guam.

(m) Revenue means

(1) all gross income and other amounts received or

receivable by the Authority as revenues of any kind from the

ownership or operation of any part of the system or the

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supplying and furnishing of services and commodities thereof,

including

(2) all rates, rentals, tolls, fees and charges assessable and

chargeable by the Authority in respect to dockage, wharfage,

demurrage and rates appertaining to the system or derived from

the rental of all or part of the system or from the sale or rental

of any commodities or goods in connection with the system,

(3) all amounts received by the Authority pursuant to any

payment agreement, and

(4) all proceeds of insurance or grants covering business

interruption loss (and related losses and expenses) relating to

the system, and

(5) all other income and revenue howsoever derived by

the Authority from the ownership or operation of, or arising

from, the system,

(6) together with all interest, profits or other income

derived from the investment of amounts in the Jose D. Leon

Guerrero Commercial Port Revenue Fund.

(n) System means all works, property and facilities now

owned, operated or leased by the Authority, and used by and useful

to the Authority for providing a deep water commercial port known

as the Jose D. Leon Guerrero Commercial Port, as well as the Civil

Port, small boat marinas, and all related facilities of Guam located

on Cabras Island, Apra Harbor, Agaña Boat Basin, and all other

Government of Guam small boat marinas, comprising all harbor

works and facilities of the Authority, including all channels,

waterways, basins seawalls, docks, piers, land areas, utilities,

warehouses, cargo handling machinery and equipment, tugboats,

barges, fire boats and other works, properties, structures or other

facilities in or upon or pertaining to the lands, improvements and

waters of the Authority used or useful for, or necessary for or

incidental to, the development and operation of the Jose D. Leon

Guerrero Commercial Port, as well as the Civil Port, small boat

marinas, and all related facilities of Guam located on Cabras Island,

Apra Harbor, Agaña Boat Basin, and all other Government of Guam

small boat marinas, together with all improvements to such works,

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property and facilities or any part thereof hereafter acquired or

constructed by the Authority, now or hereafter existing, owned

and/or operated by the Authority or its contractors, agents or

subcontractors.

(o) System operation and maintenance costs means such

reasonable and necessary current expenses of the Authority, paid or

accrued, for operation, maintenance and repair of the System as may

be determined by the Board, and the term may include, at the

Board’s option, except as limited by contract or otherwise limited by

law, without limiting the generality of the foregoing, and which

shall not include depreciation:

(1) legal and overhead expenses of the Authority directly

related and reasonably allocable to the administration of the

system;

(2) fidelity bond and insurance premiums appertaining to

the system or a reasonably allocable share of a premium of any

blanket bond or policy pertaining to the system;

(3) contractual services, professional services, salaries,

administrative expenses, and costs of labor appertaining to the

system;

(4) the costs incurred in the collection of all or any part of

the Revenues; and

(5) any costs of utility services furnished to the system by

the Authority or otherwise.

(p) United States means the United States of America.