17 Guam Code Ann. § 17103
Terms Used In 17 Guam Code Ann. § 17103
- Contract: A legal written agreement that becomes binding when signed.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
- Statute: A law passed by a legislature.
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17 Guam Code Ann. EDUCATION
CH. 17 THE UNIVERSITY OF GUAM REVENUE BOND ACT OF 1966
upon the Board by this Code or by any statute of the Territory or of the
United States:
(a) To acquire, subject to the laws of the Territory, by grant, purchase, gift, devise or lease or by the exercise of the right of eminent domain in accordance with the provisions and subject to the limitations of 21 Guam Code Ann., Chapter 15, and to hold and use any real or personal property necessary or convenient or useful for the carrying on of any of its powers pursuant to the provisions of this Chapter.
(b) To construct or to have constructed for it and to operate and control any project.
(c) To fix tuition, rates, rents or other charges of the University or for the use of any project or for services rendered in connection therewith, and to alter, change or modify the same at its pleasure, subject to any contractual obligation which may be entered into by the board with respect to the fixing of such tuition, rates, rents or charges.
(d) To enter into covenants to increase rates or charges from time to time as may be necessary pursuant to any such contract or agreement with the holders of any bonds of the Board.
(e) At any time and from time to time, with the approval of the Governor, to issue revenue bonds in order to raise funds for the purpose of establishing any project or of acquiring lands for any project, or of acquiring, constructing, improving, equipping or furnishing any project, or of refinancing any project, or for any combination of such purposes, which bonds may be secured as hereinafter provided.
(f) To adopt such rules and regulations as may be necessary to enable the Board to exercise the powers and to perform the duties conferred or imposed upon the Board by this Chapter.
(g) Nothing contained in this Section or elsewhere in this Chapter shall be construed directly or by implication to be in anywise in derogation of or in limitation of powers conferred upon or existing in the Board by virtue of any provisions of the Organic Act or statutes of the Territory or any other provisions of this Code.
SOURCE: GC § 11850.2. Subsection (c) repealed and reenacted by P.L. 24-275:5.