5 Guam Code Ann. § 58107
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Terms Used In 5 Guam Code Ann. § 58107
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Trustee: A person or institution holding and administering property in trust.
To facilitate the purposes of this Chapter and to provide security for the bondholders, the Contractor may assign, without the need of the consent of the Education Agency, the Contract, the Lease and the Lease- Back to any trustee, underwriter or other appropriate party as may be necessary to facilitate the issuance of the tax-exempt bonds or other financial instruments to provide the financing for the Education Facility.
SOURCE: Added by P.L. 26-061:2 (Dec. 22, 2001), and amended by P.L. 28-047:6 (June 10, 2005).