Guam § 59103 - Authorization to Enter into Long-Term Leases.

§ 59103. Authorization to Enter into Long-Term Leases.

For the purpose of facilitating the financing of the design,

construction and maintenance of a Public Safety Facility encompassed

by this Act, the government of Guam or a Public Safety Agency is

authorized to lease, if required, to the Contractor, subject to legislative

approval, sufficient government of Guam real property on which to

construct, convert or rehabilitate a Public Safety Facility. The location

of the property may be at the site of an existing Public Safety Facility

under the control of an Agency, which may be demolished and rebuilt

under the provisions of this Act.

Any lease of property pursuant to this Act will be for a period

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mutually agreed upon between the government and the Contractor as

may be reasonably necessary to amortize over the Lease-Back period of

the Contract the costs associated with the financing, design, construction,

and maintenance of the Public Safety Facility, and in no event shall such

period be less than twenty (20) years, or exceed thirty (30) years from the

date of commencement of the Lease-Back period.

The Contractor shall lease back to the Public Safety Agency the

property for the Lease-Back period. Upon the expiration of the Lease

and the Lease-Back periods and the fulfillment of the terms and

conditions of the Lease-Back by the Public Safety Agency, the property

and the Public Safety Facility shall become the property of the

government and the Contractor shall have no further right, title or interest

in the property or the Public Safety Facility.