Guam § 1212 - Bonds: Execution of; Validity of; Presumed Regular.

§ 1212. Bonds: Execution of; Validity of; Presumed Regular.

Bonds issued pursuant to this Article shall be executed by the Chairman of the Board and sealed with

the seal of the Authority or in lieu thereof shall bear a lithographed or engraved facsimile of the signature

of the Chairman or of such seal or both such signature and seal. The bonds shall be countersigned by the

Secretary of the Authority, or in lieu thereof, shall bear a lithographed or engraved facsimile of the signature

of the secretary. The coupons pertaining to the bonds shall be executed with the lithographed or engraved

facsimile signatures of the Chairman of and Secretary of the Authority. The bonds bearing the signature of

officers in office in an active or regular capacity on the date of signing thereof shall be valid and binding

obligations notwithstanding that before the delivery thereof and payment therefor any or all the persons

whose signatures appear thereon shall have ceased to be officers of the Authority. The validity of the bonds

shall not depend upon nor be affected by the validity or regularity of any proceedings relating to the

acquisition, purchase, construction, reconstruction, improvement, betterment or extension of the airports

for which the bonds are issued. The Board may provide in the bond resolution authorizing the bonds that

the bonds shall contain a recital that they are issued pursuant to the laws of Guam, which recital shall be

conclusive evidence of their validity and of the regularity of their issuance.