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12 GCA § 1214

Same: Source of Payment of; Not Full Faith and Credit Instruments

Guam Code AnnotatedTitle 12 — Autonomous Agencies
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All bonds issued under this Article shall be payable solely from and secured solely by the revenue or other security pledged to the payment thereof, and shall not constitute a general obligation of the Government or a charge upon the general fund of Guam, nor shall the full faith and credit of the Government be pledged to the payment of the principal and interest thereof. Each bond issued under this Article shall recite in substance that the issue of which such bond is a part and the interest thereof are payable solely from and secured solely by the revenue or other security pledged to the payment thereof, and that the bond is not a general obligation of the Government and the full faith and credit of the Government are not pledged to the payment of such principal and interest.

§ The story of this section

  1. Amended by P.L. 16-93 (bill & sponsor pending — earlier Legislature not yet ingested)

Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.