Guam § 22429 - Authorization and Approval of Refunding Bonds.

§ 22429. Authorization and Approval of Refunding Bonds.

(a) Definitions. The following terms shall have the following

meanings when used in this Section:

(1) 1989 Water Bonds means the Government of Guam

Water System Revenue Bonds, Series 1989.

(2) 1992 Highway Bonds means the Government of

Guam Limited Obligation Highway Bonds, 1992 Series A.

(3) Prior Bonds means the 1989 water bonds and the

1992 highway bonds, to be redeemed or otherwise retired

with the proceeds of refunding bonds and investment

earnings thereon.

(4) Refunding Bond means a bond issued pursuant to

this Section for the purpose of providing moneys to redeem

and otherwise retire prior bonds, funding any necessary bond

reserves and capitalized interest allocable to the refunding

bonds and paying expenses incurred in connection with the

issuance of such refunding bonds.

(5) Yield shall have the same meaning as when used in