Guam § 22953 - Terms and Conditions Determined by Indenture;

§ 22953. Terms and Conditions Determined by Indenture;

Form of Bonds; Covenants; Appointment of Fiduciaries;

Other Related Agreements.

The terms and conditions of the new issue shall be as

determined by the Governor by the execution of an indenture

authorizing the issuance of the issue. The indenture shall contain

such terms and conditions as are consistent with this Article. The

technical form and language of the bonds of the new issue,

including provisions for execution, exchange, transfer,

registration, paying agency, lost or mutilated bonds, negotiability,

cancellation and other terms, covenants or conditions not

inconsistent with this Article, shall be as specified in the indenture

executed by the Governor authorizing the issuance of the bonds in

substantially the form presented to this Legislature as evidenced

by the attached “Exhibit A” made part of this Act. The indenture

may appoint one (1) or more trustees or other fiduciaries

authorized to receive and hold in trust the proceeds of the bonds

and moneys relating thereto, to protect the rights of bondholders

and to perform such other duties as may be specified in the

indenture. The Governor is also authorized to execute, on behalf

of the Government, any appropriate agreements, certificates or

other instruments relating to the bonds and the sale of the bonds.