used in this Chapter or in any indenture entered into pursuant thereto, unless a different meaning clearly appears from the context:
(a) Authority means the Guam Economic Development Authority, created by P.L. 8-80, as amended, Eighth Guam Legisla- ture.
(b) Board means the Board of Directors of the Guam Economic
Development Authority.

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(c) Governor means te Governor of Guam.

(d) Legislature means the Legislature of Guam.
(e) Bonds or Project Revenue Bonds means bonds or other obligations, including loan agreements, notes, pass-through certificates, installment bonds, short-term obligations, commercial papers and such other obligations evidencing debt of the Authority, issued by the Authority pursuant to this Chapter.
(f) Persons means any person, including individuals, firms, partnerships, associations, societies, trusts, public or private corporations or other legal entities, including public or governmen- tal bodies as well as natural persons. “Person” shall include the plural as well as the singular.

(g) Cost means:
(1) the cost of acquisition, construction, reconstruction, repair, alteration, improvement and extension of any building, structure, facility, including water transmission facilities or other improvements and the cost of the purchase or acquisition of any obligations referred to in the last sentence of paragraph (h) of this Section;
(2) the cost of machinery and equipment, the cost of acquisition, construction, reconstruction, repair, alteration, improvement and extension of pollution control devices, equipment or facilities;

(3) the cost of lands, rights-in-lands, easements, privi- leges, agreements, franchises, utility extensions, disposal facilities, access roads and site development deemed by the Authority to be necessary or useful and convenient for any project or in connection therewith;
(4) discount on bonds, costs of issuance of bonds, engineering and inspection costs, costs of financial, legal, professional and other estimates and advice;
(5) organization, administrative, insurance, guarantee, operating and other expenses of the Authority or any person prior to and during any acquisition or construction, and all such expenses of the authority or any person prior to and during any acquisition or construction, and all such expenses as may be

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necessary or incident to the financing, acquisition, construction or completion of any project or part thereof; and
(6) such provision for payment or security of principal of or interest on bonds (including reserve for such purposes) during or after such acquisition or construction as the Authority may determine.

(h) Project means:
(1)(a) acquisition, construction, reconstruction, repair, alteration, improvement and extension of any building, structure, facility or other improvements, whether or not in existence or under construction;
(b) purchase and installation of equipment and machinery;
(c) acquisition and improvement of real estate and the extension or provision of utilities, access roads and other appurtenant facilities; and
(2)(a) acquisition, financing or refinancing of inventory, raw materials, supplies, work in process or stock in trade; or
(b) financing, refinancing or consolidation of secured or unsecured debt, borrowings or obligations; or
(c) provision of financing for any other expense incurred in the ordinary course of business; all of which are to be used or occupied by any person in any enterprise promoting employment, either for the manufacturing, processing or assembly of materials or products, or for research or office purposes, including but not limited to, medical and other professional facilities or for industrial, recreational, hotel or motel facilities, public utility and warehousing, or for commercial and service purposes, including but not limited to, retail outlets, retail shopping centers, restaurant and retail food outlets, and any and all other employment promoting enterprises including but not limited to, motion picture and television studios and facilities; and

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(d) acquisition of any equity interest in, including capital stock of any corporation; or any combination of the above, which the Authority determines will:

(i) tend to maintain or provide gainful em- ployment opportunities within and for the people of the Territory, or

(ii) aid, assist and encourage the economic development and redevelopment of the Territory, or
(iii) maintain or increase the tax base of the
Territory, or
(iv) maintain or diversify and expand employment promoting enterprises within the Territory.
(3) Project also means the purchase or other acquisition of United States Government obligations, or such other obligations as the Authority may approve, producing a yield in excess of the interest on the Bonds issued to pay the cost of such obligations.

(4) Project also means provision of financing for any expense incurred in the ordinary course of business, or in the acquisition of an equity interest in any corporation by private contractors conducting water production and distribution, or wastewater operations, jointly with the Guam Waterworks Authority.

(5) Project also means provision of financing for any expense incurred in the ordinary course of business by a Base Operating Service Contractor, or a Subcontractor, at any military base on Guam.
(i) Revenue means:

(1) receipts, fees, rentals or other payments to be received on account of lease, mortgage conditional sale or sale, and payments and other income derived from the lease, sale or other disposition of a project;

(2) money in such reserve and insurance funds or accounts or other funds and accounts (and income from the investment

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thereof) established in connection with the issuance of bonds or notes for a project or projects; and
(3) fees, charges or other money to be received by the
Authority with respect to projects and contracts with persons. (j) Territory means the territory of Guam.
SOURCE: GC §53588.01, as added by P.L. 16-66. Subsection (g) & (h) amended by P.L. 17-28. Subsection (h)(4) added by P.L. 24-295:15. Subsection (h)(5) added by P.L. 24-295:16.

§ 64103. Application for Assistance, Finding and Determination; Resolution.

A copy of any application for assistance under this Chapter received by the Authority shall be submitted to, and for the review and advice of the Administrator of the Authority. Prior to making any commitment for such assistance, the Authority shall, by resolution duly adopted, find and determine on the basis of all information reasonably available to it, that such assistance will tend to maintain or provide gainful employment for the inhabitants of the Territory, and shall serve a public purpose by contributing to the prosperity, health and general welfare of the inhabitants of the Territory and will tend to aid and assist in the economic growth, development or redevelopment of the Territory and such finding and determination shall be conclusive for all purposes of this Chapter.

SOURCE: GC §53588.02, as added by P.L. 16-66.