The proceeds of the new money bonds issued under this Article are hereby appropriated for the purposes of implementing the infrastructure improvement projects contained in the attachment marked ‘Exhibit B’ and made part of this Act. The breakdown of funding amounts for each project listed in Exhibit B may be adjusted to meet the goals of the overall project, as long as the conditions listed in Item 16 are met.

SOURCE: Amended by P.L. 24-290:2. Amended by P.L. 26-065:2.

NOTE: Sections 3 through 8 amends items 1, 7, 12, 14, 15 and 16, respectively, of Exhibit B of P.L.26-065. Item (17) of Exhibit B added by P.L. 28-027.

§ 22959. Approval of Guam Economic Development
Authority.

Title 12 Guam Code Ann. § 50103(k) provides that agencies and instrumentalities of the Government shall issue bonds and other obligations only by means of and through the agency of the Guam Economic Development Authority (‘GEDA’). No issue of bonds authorized by this Article shall be
sold until the board of directors of GEDA has adopted a resolution approving the sale of such issue.