The indenture may create a fund designated as the University
Construction Fund and may create one (1) or more accounts therein. The

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17 Guam Code Ann. EDUCATION
CH. 17 THE UNIVERSITY OF GUAM REVENUE BOND ACT OF 1966

proceeds from the sale of the bonds issued under the indenture shall be deposited in such fund or in such account thereof as may be specified by the indenture, and shall account thereof as may be specified by the indenture and shall be expended for the purposes authorized by this Chapter, as provided in the indenture relating to such bonds.
SOURCE: GC § 11850.41. Repealed and reenacted by P.L. 24-275:16.