Guam § 72108 - Authorization to Borrow.

§ 72108. Authorization to Borrow.

(a) I Maga’lahen Guåhan is authorized by this Section to

enter into a debt agreement on behalf of the Government of Guam

for the sole purpose of financing the purchasing and shipping of

equipment for the Guam Fire Department and to secure such loan

by proceeds from the FLAME Fund (10 GCA § 72106). I

Maga’lahen shall enter into such an agreement subject to the

concurrence of the Legislature by statute, and the members shall

not incur any personal liability for any loan agreement lawfully

entered into. The debt agreement shall become effective as of the

date the Legislature concurs by statute. 12 GCA § 2103(k) shall

apply to the loan obtained pursuant to this Chapter. The term of

the debt agreement shall not exceed ten (10) years. For purposes

of this Section, the form of the debt instrument for the “debt

agreement” may be a loan, bond or other form of debenture. The

choice of the debt instrument shall be the instrument with the

lowest cost of funds in terms of net present value of the origination

costs and future payments.

(b) Equipment to be purchased:

Quantity

Item Estimate Cost Cost Total

(ea)

Highrise Apparatus

–

1 1,300,000 $1,300,000

Ladder Truck

Extension

Highrise Apparatus

– 1 1,300,000 1,300,000

Elevated Platform

Fire Trucks (fully

4 500,000 2,000,000

equipped)

Tankers (5,000

2 300,000 600,000

Gallons)

COL10/29/2021

Ambulances (fully

4 275,000 1,100,000

equipped)

Rescue Boats (fully

2 390,000 780,000

equipped)

Heavy Duty trucks

(tow 2 50,000 100,000

boats)

District Commander

2 40,000 80,000

Vehicles

Jet Skis (fully

3 20,000 60,000

equipped)

Special Rescue

3 50,000 150,000

Vehicles (ALS)

Defibrillators (one

for 10 30,000 300,000

each fire truck)

Emergency

Equipment 80,000

(Jaws of Life, etc.)

Total $7,850,000