Loan Guarantees

The government of Guam will guarantee up to One Million Six Hundred Thousand Dollars ($1,600,000) of loans guaranteed by the Guam Economic Development Authority, or of loans made directly to the Guam Economic Development Authority, by any financial institutions for the purpose of carrying out its development projects, but not to exceed Four Hundred Thousand Dollars ($400,000) in any one

(1)fiscal year beginning July 1, 1968, and further, not to exceed Two Hundred Thousand Dollars ($200,000) on any one

(1)project.