17 Guam Code Ann. § 16128
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Terms Used In 17 Guam Code Ann. § 16128
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
e Legislature of Guam hereby assents to, and accepts the provisions and requirements of the Smith-Lever Act and the laws and regulations supplementary thereto. The Legislature further directs that the University of Guam shall administer the formula funds made under such Act and shall organize, conduct and administer the Cooperative Extension Service in accordance with the terms and conditions of said Act.
SOURCE: GC § 11845, as added by P.L. 14-40, as R/R by P.L. 19-40:1.
§ 16129. University of Guam Land Grant Research and
Extension Special Fund.
(a) For the purpose of compliance with Federal laws designating the University of Guam as one of the Land Grant Colleges eligible to receive land grant Federal funds for the benefit of research and extension services, there is hereby established the ‘University of Guam Land Grant Research and Extension Special Fund’ (the ‘Research and Extension Fund’), which shall be maintained separate and apart from any other funds of the government of Guam and independent records and accounts thereof shall be maintained by the University of Guam. A quarterly financial statement of the Research and Extension Fund shall be submitted to the Legislature.
(b) All Federal grants, Federal formula funds, donations and charitable contributions relating to agricultural and forestry research and extension services shall be deposited and credited to the Research and Extension Fund. The Legislature may appropriate or reappropriate to the Research and Extension Fund any local matching funds necessary for approved University of Guam Programs consistent with Research and Extension Programs in the areas of Agriculture, Home Economics, Forestry and any related programs.
(c) All income derived from the operation and services of the research farm and cooperative extension services by the University of Guam shall be deposited in and credited to the Research and Extension Fund.
(d) All debts, liabilities and any other obligations incurred for programs described in Subsection (b) of this Section shall be paid from the Research and Extension Fund.
SOURCE: Added by P.L. 17-55, as R/R by P.L. 19-40:1.
SOURCE: GC § 11845, as added by P.L. 14-40, as R/R by P.L. 19-40:1.
§ 16129. University of Guam Land Grant Research and
Extension Special Fund.
(a) For the purpose of compliance with Federal laws designating the University of Guam as one of the Land Grant Colleges eligible to receive land grant Federal funds for the benefit of research and extension services, there is hereby established the ‘University of Guam Land Grant Research and Extension Special Fund’ (the ‘Research and Extension Fund’), which shall be maintained separate and apart from any other funds of the government of Guam and independent records and accounts thereof shall be maintained by the University of Guam. A quarterly financial statement of the Research and Extension Fund shall be submitted to the Legislature.
(b) All Federal grants, Federal formula funds, donations and charitable contributions relating to agricultural and forestry research and extension services shall be deposited and credited to the Research and Extension Fund. The Legislature may appropriate or reappropriate to the Research and Extension Fund any local matching funds necessary for approved University of Guam Programs consistent with Research and Extension Programs in the areas of Agriculture, Home Economics, Forestry and any related programs.
(c) All income derived from the operation and services of the research farm and cooperative extension services by the University of Guam shall be deposited in and credited to the Research and Extension Fund.
(d) All debts, liabilities and any other obligations incurred for programs described in Subsection (b) of this Section shall be paid from the Research and Extension Fund.
SOURCE: Added by P.L. 17-55, as R/R by P.L. 19-40:1.