Guam § 5204 - Limited Gaming Fund.

§ 5204. Limited Gaming Fund.

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

the government of Guam, a fund to be known as the Limited Gaming

Fund.

(1) All license fees, taxes and penalties collected under this Act

shall be deposited in the Fund.

(2) The Fund shall not be commingled with the General Fund,

except as indicated herein, shall be kept in a separate bank account,

and shall not be used as a pledge of security or as collateral for

government loans.

(3) The Director of Administration shall make an itemized

quarterly report to I Maga’lahen Guåhan (the Governor of Guam),

and I Liheslaturan Guåhan, of the condition of, and a detailed

description of all financial activity within, the Fund.

(4) The Director of Administration shall further make an

itemized annual report, which shall be made available to the general

public.

(b) The Fund shall be used first for the purpose of the

administration of this Act, and as otherwise stated herein. No more than

five percent of the Fund balance may be expended for this purpose, and

funds shall not be expended for personnel costs. Said Fund shall be

examined and reported upon by the Director of Administration as

required by law.

(c) No claim for the payment of any expense incurred by the

Department or any other agency in the administration of this Act, shall

be made unless it is against the Fund. No other moneys of the

government of Guam shall be used or obligated to pay the expenses of

the Department.

(d) Moneys remaining in the Fund, after maintaining the stated

reserves for administrative expenses of this Act, are hereby appropriated,

and for the purposes of the repair and construction of sports facilities

shall continue to be deemed appropriated, annually, in the following

manner in each fiscal year:

(1) (A) up to one third (1/3) of the available balance to the

Mayors Council of Guam for the repair and construction of

village recreational facilities, including community centers, and

for the procurement of sports equipment and supplies,

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including, but not limited to, team sponsorships and uniforms.

(B) Funds may also be used to purchase equipment

required to support community programs administered by

village Mayors;

(2) up to one third (1/3) of the available balance to the

Department of Parks and Recreation for the repair and construction

of its facilities, and for the procurement of sports equipment and

supplies;

(3) up to one third (1/3) of the available balance to the

Department of Education for the repair and construction of its sports

facilities, and for the procurement of sports equipment and supplies;

and

(4) No more than fifty percent (50%) of the amount

authorized in Item (1), twenty percent (20%) of the amount

authorized in Item (2), and twenty percent (20%) of the amount

authorized in Item (3) of this Subsection, for the repair and

construction of village recreational facilities and for the

procurement of sports equipment and supplies, may be used for

team sponsorships and uniforms.