Revolving Fund

There is appropriated from the General Fund the sum of Two Hundred Fifty Thousand Dollars ($250,000) to the Guam Housing and Urban Renewal Authority (GHURA) for the purpose of establishing a revolving fund. The money in the revolving fund shall be used for the COL4122017 CH. 5 GUAM HOUSING AND URBAN RENEWAL AUTHORITY purpose of meeting current obligations incurred in the development or construction of the subdivisions in this Article and to acquire substandard dwellings. The Board shall authorize current payments to its contractors or suppliers and proceeds of sales in the housing project shall be deposited in the fund.