12 GCA § 66118
Use of Balances of Funds and of Surplus Money in Funds
View official PDF ↗After payment of all operating costs and expenses and after providing for all charges required or authorized to be expended from any COL120106 CH. 66 MORTGAGE REVENUE BONDS fund, the Board may, subject to legislative appropriation, use any surplus remaining in any fund or account for such purposes as the Board may determine, subject to any and all limitations or restriction contained in any indenture. After all bonds shall have been fully paid and discharged or provisions for their payment or discharge having been irrevocably made, any moneys in any fund or account created by this Chapter or by any indenture created hereunder shall, subject to the limitation and restrictions in any indenture, be transferred to the Authority to be used only in accordance with legislative appropriations.
§ 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.