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12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 68 HOSPITAL FACILITIES FINANCE ACT

In addition to hospital facilities initiated by the Board, any public or nonprofit agency may submit to the Board, and the Board may consider a proposal using such forms and following such instructions as may be prescribed by the Board for financing hospital facilities. Such proposal shall set forth the type and location of the hospital facilities and may include other information and data available to the public or nonprofit agency respecting the hospital facilities and the extent to which such hospital facilities conform to the criteria and requirements set forth in this Chapter. The Board may request the proposed lessee to provide addi- tional information and data respecting the hospital facilities. The Board is authorized to make or cause to be made such investigations, surveys, studies, reports and reviews as in its judgment are necessary and desirable to determine the feasibility and desirability of the hospital facilities, the extent to which the hospital facilities will contribute to the health and welfare of the area in which they will be located, the powers, experience, background, financial condition, record of service and capa- bility of the management of the proposed lessee, the extent to which the hospital facilities otherwise conform to the criteria and requirements of this Chapter, and such other factors as may be deemed relevant or convenient in carrying out the purposes of this Chapter.

SOURCE: GC §53608.05, as added by P.L. 12-69.

§ 68107. Operation of Hospital Facilities; Agreements of Lease; Conveyance of Hospital Facilities to Lessee.
All hospital facilities shall be operated to serve and benefit the general public and there shall be no discrimination against any person based on race, creed, color or national origin.
The Board may lease any hospital facilities to a public or nonprofit agency for operation and maintenance in such manner as shall effectuate the purposes of this Chapter, under an agreement of lease in form and substance not inconsistent herewith. Any such agreement of lease may include provisions that:
(1) The lessee shall, at its own expense, operate, repair and maintain the hospital facilities leased thereunder;

(2) The rent payable under the lease shall in the aggregate be not less than an amount sufficient to pay all of the interest, principal and any redemption premium on the bonds or notes issued by the Board to pay the cost of the hospital facilities leased thereunder;

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12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 68 HOSPITAL FACILITIES FINANCE ACT

(3) The lessee shall pay all other costs incurred by the Board in connection with the providing of the hospital facilities leased, except such costs as may be paid out of the proceeds of bonds or notes or otherwise, including, but without limitation, any service charges to the Corporation, insurance costs, the cost of administer- ing the indenture authorizing and securing such bonds or notes and the fees and expenses of trustees, paying agents, attorneys, consultants and others;
(4) The lease shall terminate not earlier than on the date on which all such bonds and all other obligations incurred by the Board in connection with the hospital facilities leased thereunder shall be paid in full or adequate funds for such payment shall be deposited in trust; and

(5) The lessee’s obligation to pay rent shall not be subject to cancellation, termination or abatement by the lessee until the bonds have been paid or sufficient funds have been made available for such payment.
All obligations payable by a public agency under an agreement of lease, including the obligation to pay rent and to pay the costs of operating, repairing and maintaining hospital facilities, shall be payable solely from the revenues of the hospital facilities being leased and shall not be payable from or charged upon any funds of the public agency other than the revenues pledged to such payment.

When the principal of and interest on bonds of the Corporation issued to finance the cost of a particular hospital facility, including any refunding bonds issued to refund and refinance such bonds, have been fully paid and retired, or when adequate provision has been made to fully pay and retire the same, and all other conditions of the indenture authorizing and securing the same have been satisfied and the lien of such indenture has been released in accordance with the provisions thereof, the Corporation shall promptly do such things and execute such deeds and conveyances as are necessary and required to convey title to such project or projects to such participating hospital facility free and clear of all liens and encumbrances, all to the extent that title to such project or projects shall not, at the time then be vested in such participating hospital facility.

SOURCE: GC §53608.06, as added by P.L. 12-69.

COL120106
12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 68 HOSPITAL FACILITIES FINANCE ACT