Powers of GAF

GAF shall have, and may exercise the following general powers in carrying out the activities authorized:

(a)To have perpetual succession, unless sooner terminated by law;

(b)To adopt, amend and repeal bylaws and other rules, regulations and directives governing the conduct of its business. No rule or regulation other than that covering the internal conduct of GAF shall be adopted without a public hearing thereon in the manner prescribed by law;

(c)To determine the character of and the necessity for its obligations and expenditures and the manner in which they shall be incurred, allowed and paid;

(d)To acquire, in any lawful manner, any real property, and to hold, maintain, use and operate the same; and to lease or encumber the same, whenever any of the foregoing transactions are deemed necessary or appropriate and on such terms as may be prescribed by GAF;

(e)To enter into and perform such contracts, leases, cooperative agreements as may be necessary or appropriate to the conduct of the activities authorized and on such terms as may be prescribed by GTAF;

(f)To execute all instruments necessary or appropriate in the exercise of any of its functions;

(g)To accept gifts or donations of services, or of property – real, personal or mixed, tangible or intangible – in aid of any of the activities authorized. All such gifts or donations shall be recorded and made a permanent part of GAF files and open to public scrutiny upon request;

(h)In accordance with Title 5, Guam Code Annotated, to construct, equip, operate and maintain buildings and other facilities including all equipment, supplies and machinery incident thereto;

(i)To seek and maintain funding from both public and private sources sufficient to capitalize and maintain a high operational quality of facilities for the initial construction and any expansions of the Guam Aquarium in a cost-effective and efficient manner. COL08222024 CH. 76 GUAM AQUARIUM