Guam § 22950 - Certain Definitions.

§ 22950. Certain Definitions.

The following terms shall have the following meanings when

used in this Article:

(a) Hotel tax revenues means all revenues derived from

taxes of the type now imposed by § 30101 of Chapter 30 of

Title 11 of the Guam Code Annotated.

COL4/6/2022

(b) Infrastructure improvement project means any

infrastructure improvement project approved in connection

with the prior obligations and any infrastructure

improvement project subsequently approved by statute for

implementation with moneys derived from the prior

obligations or from new bonds issued under this Article.

(c) New money bond means a bond issued pursuant to

this Article as part of the same issue at the refunding bonds,

but for the purpose of providing moneys for one (1) or more

infrastructure improvement projects, funding any necessary

bond reserves allocable to the new bonds or paying expenses

incurred in connection with the issuance of such new money

bonds.

(d) Prior obligations means the outstanding Government

of Guam Limited Obligation Infrastructure Improvement

Bonds, 1989 Series A, and the payment obligations of the

government of Guam (‘Government’) under the loan

agreement, dated as of June 20, 1997 by and between the

Government and Bank of Hawaii (the ‘Loan Agreement’).

(e) Refunding bond means a bond issued pursuant to this

Article for the purpose of providing moneys to redeem or

otherwise retire prior obligations, funding any necessary

bond reserves allocable to the refunding bonds, or paying

expenses incurred in connection with the issuance of such

refunding 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” in this section.