Guam § 1226 - Pledge and Agreement by Government.

§ 1226. Pledge and Agreement by Government.

The Government hereby pledges to and agrees with the holders of any bonds issued under this Article

that the Government will not:

(a) Limit or alter the rights hereby vested in the Authority to fulfill the terms of any agreements

made with the bondholders,

(b) in any way impair the rights and remedies of the bondholders,

(c) acquire, operate or maintain or permit any instrumentality of the Government or any other

public or private agency, entity or person to acquire, operate or maintain within Guam an airport

facility competitive with the airports, or

(d) transfer any additional non-airport operating responsibilities to the Authority without

providing for the payment of the costs of such additional responsibilities. The Authority is authorized

to include this pledge and agreement of the Government in an agreement with the holders of bonds.