Definitions

The following terms wherever used or referred to in this Article or in any indenture entered into pursuant hereto (except to the extent modified therein in accordance with this Article) shall have the following meanings, respectively, unless a different meaning appears from the context:

(a)“Bonds” means an instrument of indebtedness, whether in the form of bonds, notes or another such instrument, issued by the government and providing for repayment of the principal amount of the indebtedness, plus interest, over a specified timeframe.

(b)“Bondholder” or “holder of bonds,” or any similar term, means any person who shall be:

(1)the bearer of any outstanding bond or bonds registered to bearer or not registered; or

(2)the registered owner of any such outstanding bond or bonds which shall at the time be registered other than to bearer.

(c)“Department” means the Department of Public Works, acting on behalf of the government of Guam.

(d)“Director” means the Director of the Department of Public Works.

(e)“Guam Solid Waste Management and Litter Control Act” means Chapter 51 of Title 10 of the Guam Code Annotated.

(f)“Indenture” means an agreement pursuant to which bonds are issued, regardless of whether such agreement is expressed in the form of a certificate of I Maga’hågan/Maga’låhen Guåhan or by other instrument.

(g)“Organic Act” means the Organic Act of Guam, as amended, and in effect on the effective date of this Article (Title 48, §1421 et seq. of the United States Code).

(h)“Person” includes any individual, firm, corporation, association, partnership, trust, business trust or receiver or trustee or conservator for any thereof, and also includes the United States, Guam or any public corporation, political subdivision, city, county or district or any agency or instrumentality of the United States or of Guam.

(i)“Pledged revenue” means any revenue of the system and any General Fund revenue, including any Section 30 revenue, pledged to the payment of bonds.

(j)“Rates, fees and charges” means all rates, fees and charges (including tipping fees, residential pick-up fees, collection fees, self-drop fees and all other solid waste management service charges), received or receivable by or on behalf of the Department for providing solid waste management services.

(k)“Revenue of the system” means all gross income and other amounts received by or on behalf of the Department as revenues of any kind from the ownership or operation of any part of the system, including all rates, fees and charges received by the Department, and all proceeds of insurance or grants covering business interruption loss (and related losses and expenses) relating to the system, and CH. 51A GUAM SOLID WASTE AUTHORITY all other income and revenue howsoever derived by the Department from the ownership or operation of, or arising from, the system, together with all interest, profits or other income derived from the investment of amounts in the Solid Waste Operations Fund, to be deposited to the Solid Waste Operations Fund in accordance with § 51A833, Title 10, Guam Code Annotated.

(l)“Section 30 revenue” means revenues derived by the government of Guam under Section 30 of the Organic Act (Title 48, § 1421h of the United States Code).

(m)“Solid Waste Operations Fund” means the fund by that name established pursuant to § 51A301(f), Title 10, Guam Code Annotated.

(n)“System” means the solid waste management system, now or hereafter existing, owned and/or operated by the Department or its contractors, agents or subcontractors, including, but not limited to, landfills (whether closed or open and including Ordot Dump), transfer stations, recycling facilities, collection trucks, appurtenant equipment such as scales, ground water monitoring equipment and pollution control equipment, and administrative facilities supporting the provision of solid waste management services, including facilities for payroll, billing and collections.

(o)“System operation and maintenance costs” means such reasonable and necessary current expenses of the Department, paid or accrued, for operation, maintenance and repair of the system, including, without limiting the generality of the foregoing:

(1)legal and overhead expenses of the Department directly related and reasonably allocable to the administration of the system;

(2)fidelity bond and insurance premiums appertaining to the system or a reasonably allocable share of a premium of any blanket bond or policy pertaining to the system;

(3)contractual services, professional services, salaries, administrative expenses, and costs of labor appertaining to the system; and

(4)the costs incurred in the collection of all or any part of the revenues.

(p)“United States” means the United States of America.