Terms Used In 12 Guam Code Ann. § 82213

  • Lien: A claim against real or personal property in satisfaction of a debt.
Any balance remaining in any of the funds or accounts created by this Article or any indenture after payment of all costs, expenses and charges required or authorized to be expended therefrom, may be allocated and used for such other purposes relating to the project or to the Authority, as the Board may determine, subject to the limitations and restrictions in any indenture. When the principal of and interest on bonds of the Authority issued to finance the costs of a particular project, including any refunding bonds issued to refinance all or any part of these bonds, have been fully paid and retired, or when adequate provisions have been made for their payment and retirement and all other conditions of any resolution, indenture, security interest or any other instrument authorizing and securing the bonds have been satisfied, and any lien created has been released in accordance with the provisions thereof, the Authority is authorized, upon the terms and conditions it prescribes, to execute releases, released deeds, reassignments, deeds and conveyances, and to do all things necessary or required to convey or release its rights, title and interest in the project financed and in any other instruments pledged or transferred to secure bonds to the government of Guam or any political subdivision thereof, as their respective interests may appear.