Guam § 30107 - Creation of Tourist Attraction Fund.

§ 30107. Creation of Tourist Attraction Fund.

(a) There is hereby created, separate and apart from other funds of

the government of Guam, a fund known as the Tourist Attraction Fund

(hereinafter TAF). The TAF shall not be commingled with the General

Fund and shall be kept in a separate bank account. All proceeds from

taxes collected under this Chapter shall be deposited in the TAF and shall

be expended exclusively for purposes authorized in § 9107 and § 9113 of

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11 GCA FINANCE & TAXATION

HOTEL AND SIMILAR LODGING HOUSE FACILITIES

Title 12, Guam Code Annotated. The TAF may also be used to fund the

following projects:

(1) The creation, improvement or beautification of roads,

avenues, boulevards, parkways, intersections, bicycle paths, motor

bike trails, footpaths, biking trails, stairways, rivers, streams,

estuaries, lagoons, or other means of access and transportation;

(2) The development and restoration of points of natural

beauty or historic social or cultural significance, including means of

access, parking, safety devices, concessions, restrooms, view points

and information pavilions;

(3) The construction of monuments, memorials, statues,

fountains, arches, and similar projects;

(4) The construction of buildings to be used for public

purposes including zoos and aquariums, museums, athletic facilities,

cultural centers, and performing arts complexes;

(5) Landscaping, provision of decorations or the enhancement

of beauty of any of the projects listed in this Section;

(6) Accessory projects reasonably necessary to projects listed

in this Section;

(7) Projects and programs identified in the Tumon Bay Master

Plan.

(b) Except as provided in subparagraph (i)(A) of 5 GCA § 1504(d),

all expenditures of the TAF shall be made exclusively by appropriation

of the Legislature. No further appropriations shall be made of monies in

the TAF which have been pledged for the payment of any debt or debts

created pursuant to said 5 GCA § 1504 and such monies may be used for

payment of such debt or debts without further appropriations. The TAF

shall not be used for any purposes other than those enumerated or

reasonably inferred herein or for purposes other than those relating to

Guam tourism. Specifically, the TAF shall not be used as a pledge of

security or as collateral for government loans without prior authorization

by the Legislature.