Guam § 77114 - Management.

§ 77114. Management.

The Director of Parks and Recreation (the Director) shall be

the custodian of the Fund and may deposit monies collected

therein in one (1) or more local banks. The Director is authorized

to draw monies from the Fund, at the request of the Commission,

for the development, improvement or maintenance of the

Territorial park System under the jurisdiction of the Department,

for recreational facilities, or for on-island sports programs and to

underwrite the cost of implementing the recreational on-island

sports programs established by the Department, not to exceed

Twenty-Five Thousand Dollars ($25,000) for any one project or

program. No monies from the Fund shall be used for off-island

travel. The existing Recreation Activity Revolving Fund rules and

regulations that are not in conflict with § 77114, § 77114.1 and §

77114.2 of this Chapter shall remain in effect. The Commission

shall submit, no later than January 31st of each year, an annual

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audited financial statement of the Fund to the Governor and to the

Legislature.