Guam § 68112 - Revenues; Pledges of Revenues.

§ 68112. Revenues; Pledges of Revenues.

(a) The Board is hereby authorized to fix and to collect fees, rents

and charges for the use of any hospital facilities, and any part or section

thereof, and to contract with any public or nonprofit agency for the use

thereof. The Board may require that the lessee or users of any hospital

facilities or any part thereof shall operate, repair and maintain such

facilities and shall bear the cost thereof and other costs of the Board

including any appropriate service charges, in connection therewith, as

may be provided in the agreement of lease or other contract with the

Board, in addition to other obligations imposed under such agreement or

contract.

(b) The fees, rents and charges shall be fixed so as to provide a fund

sufficient, with such other funds as may be made available therefor, (i) to

pay the costs of operating, repairing and maintaining the hospital

facilities, to the extent that adequate provision for the payment of such

costs has not otherwise been provided for, (ii) to pay the principal of and

the interest on all the bonds as the same shall become due and payable,

and (iii) to create and maintain any reserves provided for in the indenture

authorizing and securing the issuance of such bonds; provided, however,

that nothing herein shall prohibit the application of fees, rents and

charges to the payment of debt service on the bonds prior to the payment

of the costs of operating, repairing and maintaining the hospital facilities.

(c) All pledges of fees, rents, charges and other revenues under the

provisions of this Chapter shall be valid and binding from the time when

such pledges are made. All such revenues so pledged and thereafter

received by the Board shall immediately be subject to the lien of such

pledge without any physical delivery thereof or further act, and the lien

of any such pledge shall be valid and binding as against all parties having

claims of any kind in tort, contract or otherwise against the Board,

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irrespective of whether such parties have notice thereof. The indenture

by which a pledge is created or any lease need not be filed or recorded

except in the records of the Board.