Guam § 52106 - Criteria and Requirements.

§ 52106. Criteria and Requirements.

In undertaking any such loan, the Board of Directors shall be guided

by and shall observe the following criteria and requirements; provided,

that the determination by the Board of Directors as to its compliance with

such criteria and requirements shall be final and conclusive:

(1) There is a need for such facilities in the area in which the

facilities are to be located;

(2) No facilities shall be leased to any public or non-profit

agency unless a feasibility study supporting the project’s financing

is submitted by the applicant to the Corporation. The study shall

contain information as directed by the Corporation.

(3) Adequate provision shall be made for the payment of the

principal of and the interest on said loan and any necessary reserves

therefor and for the operation, repair and maintenance of the

facilities at the expense of the lessee(s); and

(4) Public facilities, including utilities, and public services

necessary for the facilities will be made available."