Guam § 9304 - Access to Funds, established.

§ 9304. Access to Funds, established.

Following the approval of a resolution by the Board of

Directors of the Guam Visitors Bureau containing:

(a) a statement of facts that a natural or man-made

disaster has occurred on Guam, or certain external

economic conditions have been experienced;

(b) a recitation of the activities to be undertaken to

mitigate the potential harm to Guam’s tourism industry; and

(c) insufficient funds are available for such activities

within the current fiscal year’s operating budget; up to fifty

percent (50%) of the Fund’s balance may be made available

to the Guam Visitors Bureau for each such occurrence. If

the activities to be undertaken require funding greater than

the amount available, the Guam Visitors Bureau shall

immediately notify I Liheslaturan Guåhan of their need for

additional funding assistance, and seek the approval of

legislation to expend more than the fifty percent (50%)

authorized herein.