Guam § 66102 - Definitions.

§ 66102. Definitions.

The following terms, wherever used or referred to in this Chapter, or

in any indenture entered into pursuant thereto, shall have the following

meanings, respectively, unless a different meaning appears from the

context:

(a) Authority means the Guam Economic Development

Authority, created by P.L. 8-80, Eighth Guam Legislature.

(b) Board means the Board of Directors of the Authority.

(c) Bonds or revenue bonds means the indenture providing for

the issuance of revenue bonds pursuant to this Chapter.

(d) Bondholder or holder of bonds or any similar terms means:

(i) the bearer of any outstanding bond registered to bearer

or not registered; or

(ii) registered owner of any outstanding bond.

(e) Governmental instrumentality means the United States, the

territory of Guam, or any public corporation, political subdivision,

state, county, city, district or any instrumentality of either the United

States or this Territory.

(f) Governor means the Governor of Guam.

(g) Gross revenues mean all of the revenues prior to deducting

operational costs.

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(h) Indenture means a resolution or trust agreement adopted or

approved by a majority of all members of the Board providing for

the issuance of bonds pursuant to this Chapter.

(i) Legislature means the Legislature of Guam.

(j) Net revenues means the gross revenues after having

deducted therefrom the operational costs.

(k) Operational costs mean all costs of administration of the

mortgages, contracts, indentures, revenues and funds for which

bonds are issued.

(l) Organic Act means the Organic Act of Guam as amended

and in effect on the effective date of this Chapter. (64 Stat. 384,

Title 43, §1421 et seq., U.S. Code.)

(m) Person includes any individual, firm, corporation,

association, copartnership, trust, receiver, trustee or conservator for

any thereof, and also includes the United States, the territory of

Guam, a public corporation, political subdivision, city, county, state,

district or any instrumentality of the United States or of the

Territory.

(n) Revenue means and includes:

(i) All income, receipts and receivables derived by the

Authority from mortgages acquired by it;

(ii) All income, receipts and receivables derived by the

Authority from contracts entered into by it;

(iii) All moneys in redemption, sinking and reserve funds

or other funds created to secure the bonds and to provide for

the payment of the principal of and the interest and premiums

thereon;

(iv) All contributions and appropriations made to the

Authority, to the extent not limited in the making thereof; and

(v) All earnings on any invested funds of the Authority,

excepting as limited in contributions and appropriations.

(o) Territory means the territory of Guam.

(p) Trustee means the trustee appointed pursuant to §2512.

(q) United States means the United States of America.

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