All general revenue bonds constituting a part of the same issue shall be equally and ratably secured, without priority by reason of number, date of bonds, date of sale, date of execution or date of delivery, by a lien and charge on the revenue pledged to the payment thereof in accordance with this Article and the bond resolution authorizing the issuance of such bonds; provided, this provision shall not be deemed to prohibit the issuance of general revenue bonds which are payable junior and subordinate to outstanding general revenue bonds. Any additional general revenue bonds which are payable out of the revenue of the airports may be issued on a parity with any general revenue bonds previously issued upon compliance with any conditions which may be prescribed in the bond resolution.

SOURCE: GC § 62112, as reenacted by P.L. 16-093 (June 15, 1982).

COL 8/23/2023

12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 1 ANTONIO B. WON PAT INTERNATIONAL AIRPORT AUTHORITY, GUAM