Guam § 66129 - Principal Amount in Which Refunding Bonds May be

§ 66129. Principal Amount in Which Refunding Bonds May be

Issued.

Refunding bonds may be issued in a principal amount sufficient to

provide funds for the payment of all bonds to be refunded thereby, and in

addition for the payment of all expenses incident to the calling,

purchasing, retiring or paying of such outstanding bonds, and the

issuance of such refunding bonds. These expenses include (i) the

difference in amount between the par value of the refunding bonds and

any amount less than par for which the refunding bonds are sold, (ii) any

amount necessary to be made available for the payment of the interest

upon such refunding bonds from the date of sale thereof to the date of

payment of the bonds to be refunded or to the date upon which the bonds

to be refunded will be paid pursuant to the call thereof or agreement with

the holders thereof, and (iii) the premium, if any, necessary to be paid in

order to call or retire the outstanding bonds and the interest accruing

thereon to the date of the call or retirement.