any provision of this Law or its application to any person or circumstance is found to be invalid or contrary to law, such invalidity shall not affect other provisions or applications of this Law which can be given effect without the invalid provisions or application, and to this end the provisions of this Law are severable.

NOTE: Formerly § 81114, renumbered by P.L. 29-019:IX:1 (Sept. 29, 2007) in order to add a new § 81113.

As uncodified sections 2, 3 and 4, the Legislature enacted the following with respect to this Chapter:

Section 2. Local Sales of Bonds. The Authority shall undertake its best efforts to cause a portion of any bonds issued pursuant to Chapter 80 of Division 2 of Title 12 of the Guam Code Annotated, to be offered for sale to residents of Guam, as well as to residents of other jurisdictions, if and to the extent that such offer, and any sales resulting from such offer, do not increase the costs to the Authority of issuing and repaying such bonds.

Section 3. Approval of Bonds. I Liheslaturan Guåhan, pursuant to
§50103(k) of Title 12 of the Guam Code Annotated, hereby approves the issuance and sale by the Guam Economic Development Authority of bonds in a principal amount not to exceed Forty Million Dollars ($40,000,000); provided, that the conditions to the issuance of such bonds shall have been met, such bonds have a final maturity not later than the Year 2043, bear interest at such rate and are sold for such price or prices as shall result in a yield to the bondholders not exceeding eight percent (8%) per annum, and are
issued and sold pursuant to an indenture in substantially the form presented to the session of I Liheslaturan Guåhan, in which this Act was passed.

Section 4. Ratification of Prior Acts. I Liheslaturan Guåhan hereby approves, confirms and ratifies all actions heretofore taken by or on behalf of the government in connection with the Master Settlement Agreement, including, but not limited to, the execution and delivery of the Master Settlement Agreement.

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