Guam § 5 - Deficiencies in Bond Fund.
Full text of Guam Guam Code Annotated § 5 — Deficiencies in Bond Fund., with citation guidance and answers to common questions.
§ 5. Deficiencies in Bond Fund.
(A) In the event that on the fifth day before any Interest
Payment Date, or if any such day is not a Business Day, on the
next preceding Business Day, the amount in the Bond Fund is
insufficient to pay the principal of, Mandatory Sinking Account
Payments for and interest on such Interest Payment Date, the
Trustee or the Depositary upon the direction of the Trustee, as the
case may be, shall transfer to the Bond Fund the amount of such
deficiency by withdrawing said amount from the following funds
in the following order of priority and prior to any other claims
upon such funds: (1) the Revenue Fund, and (2) the Bond Reserve
Fund. If after making all such transfers, the amount in the Bond
Fund is insufficient to pay the principal of or Mandatory Sinking
Account Payments for or interest on the Bonds due on the next
succeeding Interest Payment Date, the Trustee shall promptly
notify each Credit Provider of the amount of such insufficiency.
(B) The Government may, by Supplemental Indenture
providing for the issuance of an additional Series of Bonds,
specify earlier dates for the testing of the sufficiency of amounts
in the Bond Fund.
Frequently Asked Questions About Guam § 5
What does Guam Code Annotated § 5 cover?
Section 5 ("Deficiencies in Bond Fund.") 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 § 5?
A common citation format is "Guam Code Annotated § 5" (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 § 5 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.