12 GCA § 66105
Maximum Amount, Purpose of and Term of Bonds
View official PDF ↗COL120106 CH. 66 MORTGAGE REVENUE BONDS Before issuing any bond or bonds, the Board shall, by indenture approved by the Governor, declare the purpose for which the proceeds of the bonds proposed to be issued shall be expended and shall specify the maximum amount of bonds to be issued or sold for such purpose, and their maximum term which shall not exceed the life of the Authority. Bonds shall not be issued or sold for such purpose in an amount or for a term exceeding that specified.
§ The story of this section
- Enacted by P.L. 11-18 (bill & sponsor pending — earlier Legislature not yet ingested)
Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.