Guam § 80102 - Same: Powers and Responsibilities Relative to Commuter

§ 80102. Same: Powers and Responsibilities Relative to Commuter

Air Service Development.

Except as otherwise provided by law, the Corporation is authorized

and empowered to carry out the purposes of this Chapter. It is expressly

authorized to:

(a) assist persons interested in establishing or expanding

commuter air service, and related facilities and services in Guam in

obtaining information from and coordinating with government of

Guam agencies, public corporations and Federal agencies

represented in Guam;

(b) assist those persons interested in establishing or expanding

commuter air service and related facilities on Guam in obtaining

financing, by maintaining and disseminating information regarding

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financing available through private and public sources;

(c) provide administrative and financial assistance, on such

terms and upon such conditions as the Board may determine with

respect to the preparation of feasibility studies relating to specific

proposals for the development or expansion of commuter air service

and related facilities on Guam;

(d) lease government-owned land with the consent of I

Liheslaturan Guahan by resolution, at less than fair market value or

sell land acquired by the Corporation to persons for the

development and operations of commuter air service and related

facilities, or for the expansion of existing commuter air service

facilities and other related facilities;

(e) prepare or have prepared assessment of commuter air

service facilities or services required for the construction and

support of additional facilities, expansion of existing facilities, and

the construction and use of related facilities;

(f) expend, on such terms and upon such conditions as it shall

determine, such part of its funds may be uncommitted to pay for in

whole or in part, additional infrastructure facilities or services which

it has determined pursuant to Subsection (e) of this Section to be

necessary for the accomplishment of its purposes; and

(g) make loans and to guarantee loans, only if it finds that there

are no practical alternative sources of financing available. The

Corporation may charge a fee, in addition to interest on any loan

which makes or guarantees. The fee shall not exceed two percent

(2%) of the amount of the loan. The fee shall be used by the

Corporation to carry out the purposes of the Chapter. No loan made

or guaranteed by the Corporation shall be assigned or otherwise,

transferred directly or indirectly, without consent of the Corporation.