Guam § 1215 - Authority to be Self-sustaining.
Full text of Guam Guam Code Annotated § 1215 — Authority to be Self-sustaining., with citation guidance and answers to common questions.
§ 1215. Authority to be Self-sustaining.
The Board shall prescribe, impose and collect rates, rentals, fees or charges for the use and services of
and the facilities and commodities furnished by the airports, including landing fees as permitted, and shall
revise such rates, rentals, fees, charges and landing fees from time to time whenever necessary to keep the
Authority on a self-sustaining basis. The rates, rentals, fees, charges and landing fees imposed and
prescribed shall produce revenue which will be at least sufficient to:
(a) Make the required payments of the principal and interest of all general revenue bonds issued
by the Authority.
(b) Pay the cost of operation of the Authority and the maintenance and repair of the airports,
including reserves therefor.
(c) Carry out the covenants of the bond resolution or bond resolutions authorizing the issuance of
bonds.
(d) Repay the Government for advances hereafter made for or on account of the Authority,
including the allocable portions of principal and interest on rehabilitation loans made for or on account
of the Authority, as disclosed by historic annual financial reports of relevant operations.
Frequently Asked Questions About Guam § 1215
What does Guam Code Annotated § 1215 cover?
Section 1215 ("Authority to be Self-sustaining.") 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 § 1215?
A common citation format is "Guam Code Annotated § 1215" (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 § 1215 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.