12 Guam Code Ann. § 1208
Terms Used In 12 Guam Code Ann. § 1208
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Statute: A law passed by a legislature.
(b) The Board shall specify in the bond resolution the denomination or denominations in which the bonds shall be issued, the interest rate or rates the bonds shall bear or the manner of determining such interest rate or rates and the frequency with which interest payments shall be made upon them. The Board may provide in the bond resolution or any subsequent bond resolution that the bonds may:
(1) Bear the same or different dates.
(2) Mature at such time or times not exceeding thirty- five (35) years from their respective dates.
(3) Be paid in certain mediums and at certain places.
(4) Contain terms of redemption with such premiums as may be fixed (but no general revenue bond may be subject to redemption prior to its fixed maturity date unless such right of redemption is expressly set forth on the face of the general revenue bond).
(5) Contain terms, covenants and conditions set by the Authority pursuant to § 1209 of this Article, and be in coupon or registered form.
(c) The bond resolution or another resolution adopted by the Board may authorize the sale of the bonds at either public or private sale and at a price not less than such price as is set in the resolution authorizing the sale. If any general revenue bonds are to be sold at public sale, notice of sale with respect thereto shall be published at least once not less than five (5) days prior to the date of sale in a newspaper of general circulation in Guam and in a financial newspaper published in any of the cities of New York, Chicago, Illinois, or San Francisco, California.
COL 8/23/2023
12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 1 ANTONIO B. WON PAT INTERNATIONAL AIRPORT AUTHORITY, GUAM
(d) Any provision authorized by this Article to be included in a bond resolution may be included in an indenture or trust agreement authorized by the bond resolution to be executed on behalf of the Authority and incorporated by reference in the bond resolution in substantially final form.
SOURCE: GC § 62107, as reenacted by P.L. 16-093 (June 15, 1982). Amended by P.L. 21-135:9 (Sept. 24, 1992).