Guam § 14237 - Credit Enhancement.
Full text of Guam Guam Code Annotated § 14237 — Credit Enhancement., with citation guidance and answers to common questions.
§ 14237. Credit Enhancement.
(a) The Board has the power and is hereby authorized to cause the Authority to enter into such contracts
or agreements with such banks, insurance companies or other financial institutions as it determines are
necessary or desirable to improve the security and marketability of the bonds or the security of the
government’s obligations under any contract or agreement entered into under 12 GCA § 14236. Such
contracts or agreements may contain an obligation to reimburse, with interest, any such banks, insurance
companies or other financial institutions for advances used to pay principal of or interest on the bonds and
to indemnify any such banks, insurance companies or other financial institutions for costs and expenses
incurred in connection with any such advance; provided, that any obligation of the Authority under any
reimbursement agreement shall be payable solely from revenues.
(b) Any reimbursement agreement may include a provision that the obligations of the Authority under
the agreement shall be secured by all or by part of revenues; provided that, at the time of execution and
delivery of each such agreement, any such provision shall be in compliance with and shall not violate or
breach any provision of any indenture then in effect with respect to bonds.
Frequently Asked Questions About Guam § 14237
What does Guam Code Annotated § 14237 cover?
Section 14237 ("Credit Enhancement.") 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 § 14237?
A common citation format is "Guam Code Annotated § 14237" (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 § 14237 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.