12 GCA § 14233
Use of Balances of Funds and of Surplus Money in Funds
View official PDF ↗Any balance remaining in any of the funds or accounts created by this Article or any indenture after payment of all costs, expenses and charges required or authorized to be expended therefrom, may be allocated and used for such other purposes relating to the acquisition, construction, improvement, operation and maintenance of the system or to the Authority, as the Board may determine, subject to the limitations and restrictions in any indenture. After all bonds shall have been fully paid and discharged or provision for their payment and discharge irrevocably made, any surplus moneys in any fund or account created by this Article or any indenture shall, subject to the limitations and restrictions in any indenture, be transferred to the Authority and shall be and remain available for the acquisition, construction, improvement, maintenance or operation of the system or for any other purposes of the Authority herein or hereafter authorized by law.
§ The story of this section
- Enacted by P.L. 28-71 § 2 — introduced as Bill 220-28 · introduced by Joanne Brown
Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.