Bond Covenants; Actions to Enforce

(a)The Board may include in any bond resolution authorizing the issuance of special revenue bonds under this Article covenants as to: CH. 1 ANTONIO B. WON PAT INTERNATIONAL AIRPORT AUTHORITY, GUAM

(1)The purpose or purposes to which the proceeds of sale of the bonds shall be applied and the use and disposition thereof.

(2)The use and disposition of the revenue of the airports, including the creation and maintenance.

(3)The issuance of additional special revenue bonds payable from the revenue of the airports.

(4)The operation, maintenance and repair of the airports.

(5)The insurance to be carried by the Authority and the use and disposition of insurance moneys.

(6)Books of account and the inspection and audit thereof.

(7)Such other matters as are deemed necessary and required by the Board in order to properly secure such bonds.

(b)The provisions of this Article and any bond resolution authorizing the issuance of special revenue bonds shall be a contract with the bondholders and the duties of the Authority or any person under this Article and the conditions of any bond resolution shall be enforceable by any bondholder by injunction, mandamus or other appropriate suit, action or proceeding in any court of competent jurisdiction.