17 Guam Code Ann. § 17120
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Terms Used In 17 Guam Code Ann. § 17120
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
The Board may provide for the security of bonds. The Board may use and expend all or any part of any funds or proceeds of any property owned by it (including any moneys in the University Auxiliary Services Fund whether received by gift, appropriation or otherwise, if not restricted as to the use of such funds or proceeds or property by the terms of any gift or trust or provision of law, for the redemption of bonds issued pursuant to the provisions of this Chapter and the payment of interest due thereon. None of the provisions of said [§ 11841] shall be construed as a restriction as to the use of funds for any purpose of this Chapter.
SOURCE: GC § 11850.19.
NOTE: See Note to § 17102 relative to the Auxiliary Services Fund..