Guam § 221404 - Bond Proceeds.
Full text of Guam Guam Code Annotated § 221404 — Bond Proceeds., with citation guidance and answers to common questions.
§ 221404. Bond Proceeds.
All proceeds from the issuance of the Compact Impact Grant
Anticipation Bonds in accordance with the provisions of this
Article shall be credited to the Capital Infrastructure and
Maintenance Fund to be used for the following purposes:
(a) Construction of public schools and
collateral equipment $88,000,000.00
[(1) two (2) high schools not
to exceed $56,000,000.00;
(2) one (1) middle school not
to exceed $16,000,000.00; and
(3) two (2) elementary schools
not to exceed $16,000,000.00]
(b) Repairs & refurbishments $10,000,000.00
[payments for the repairs and
refurbishments of existing public
schools.]
(c) Upgrade of DOC ACF $ 5,000,000.00
[construction of a new eighty-five (85)
bed facility and upgrades required to
meet the U.S. Department of Justice
mandates towards resolution of the
Consent Decree.]
(d) replacement of CT Scan System $ 1,000,000.00
[as established in the Guam Memorial
Hospital Authority Ten-Year Capital
Improvements Plan.]
(e) redesign and expansion of the
emergency medical department $ 3,000,000.00
[as established in the Guam Memorial
COL4/6/2022
Hospital Authority Ten-Year
Capital Improvements Plan.]
(f) establishment of an endoscopy suite $ 500,000.00
[as established in the Guam Memorial
Hospital Authority Ten-Year Capital
Improvements Plan.]
(g) expansion or construction of health
clinics $ 2,000,000.00
[Department of Public Health and
Social Services regional community
health clinics.]
(h) and any expenses relating to the authorization, sale
and issuance of the bonds, including, without limitation,
printing costs, costs of reproducing documents, credit
enhancement fees, underwriting, legal, financial advisory
and accounting fees and charges, fees paid to banks or other
financial institutions providing credit enhancement, costs of
credit ratings and other costs, charges and fees in connection
with the issuance, sale and delivery of the bonds.
2012 NOTE: In maintaining the general codification scheme of the GCA
the Compiler changed the hierarchy of subsections beginning with
“Numbers” to “Lowercase Letters” and subsections beginning with
“Lowercase Letters” to “Numbers” in this section.
Frequently Asked Questions About Guam § 221404
What does Guam Code Annotated § 221404 cover?
Section 221404 ("Bond Proceeds.") 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 § 221404?
A common citation format is "Guam Code Annotated § 221404" (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 § 221404 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.