12 Guam Code Ann. § 66105
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Terms Used In 12 Guam Code Ann. § 66105
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
COL120106
12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 66 MORTGAGE REVENUE BONDS
Before issuing any bond or bonds, the Board shall, by indenture approved by the Governor, 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, and their maximum term which shall not exceed the life of the Authority. Bonds shall not be issued or sold for such purpose in an amount or for a term exceeding that specified.
SOURCE: GC §53607.04, as added by P.L. 11-18.