Guam § 83109 - Pledge or Reservation of Revenues.

§ 83109. Pledge or Reservation of Revenues.

CH. 83 THE GUAM TWENTY-FIRST (21ST) CENTURY

HEALTHCARE CENTER ACT OF 2021

(a) Rental payments under the lease and the lease-back may

be secured by a pledge or other reservation of revenues collected

by the Government of Guam from the following:

(1) The sum of no more than Thirty-five Million Dollars

($35,000,000) from the revenues received pursuant to 11

GCA Chapter 42, Earned Income Tax Credit, will be

available for Fiscal Year 2022 only.

(2) The sum of no more than Thirty-five Million Dollars

($35,000,000) from the General Fund shall be appropriated

annually thereafter.

(3) The Governor of Guam may use federal funds that

is made available to the Government of Guam by the United

States federal government for such purposes.

(4) The use of other financing options is authorized for

the purposes of this Act, including, but not limited to, loans,

grants, bond financing, and other alternate funding or

financing options, subject to legislative approval.

(b) Any amounts reserved or pledged as provided in this

Section shall be subject to annual appropriation for the purpose of

making lease-back payments. The revenues pledged or reserved

and thereafter received by the Government of Guam or by any

trustee, depository or custodian shall be deposited in a separate

account and shall be immediately subject to such reservation or

the lien of such pledge without any physical delivery thereof or

further action, and such reservation or the lien of such pledge shall

be valid and binding against all parties having claims of any kind

in tort, contract or otherwise against the Government of Guam or

such trustee, depository or custodian, irrespective of whether the

parties have notice thereof. The instrument by which such pledge

or reservation is created need be recorded.

2022 NOTE: Subsection designation added pursuant to the authority of 1

GCA § 1606.