Before issuing any bond or bonds, the Board shall declare the purpose for which the proceeds of the bonds proposed to be issued shall be expended and shall specify the maximum amount of bonds to be issued or sold for such purpose. Bonds shall not be issued or sold for such purpose in an amount exceeding such specified maximum.

SOURCE: Added by P.L. 13-087:1 (Oct. 31, 1975) as GC § 14056. Codified as
12 Guam Code Ann. § 10207. Repealed and reenacted by P.L. 34-070:2 (Dec. 7, 2017).

2017 NOTE: This provision was originally enacted as Same: Indenture Providing
Terms and Conditions, which was reenacted by P.L. 34-070:2 (Dec. 7, 2017) as 12
GCA § 10208, Indenture Providing Terms and Conditions of Bond.