Bond Proceeds to Refund the Guam Economic Development

and Commerce Authority Tobacco Settlement Asset-Backed Bonds, Series 2001A and Series 2001B, and for other purposes.

(a)Notwithstanding any other Sections in this Chapter, including § 81104(b), or Article 13 of Chapter 22 of Division 2 of Title 5 of the Guam Code Annotated, the proceeds of bonds issued pursuant to this Chapter to refund the Authority’s Tobacco Settlement Asset-Backed Bonds, Series 2001A and Series 2001B (the Prior Bonds) shall be used to:

(1)refund the Prior Bonds;

(2)pay costs arising from issuance of the bonds;

(3)fund any required reserve or operating funds for the bonds; and

(4)provide a minimum of Seven Million Dollars ($7,000,000) for transfer from the Authority to the General Fund for the payment of the expenditures listed in subsection (b).

(b)

(1)There is hereby created the Guam Cancer Assistance and Treatment

(GCAT)Program, within the Guam Department of Public Health and Social Services (DPHSS). DPHSS shall use funds under this Program to supplement and/or cover direct cancer care services not covered in other local public assistance programs under their purview, such as the Medically Indigent Program

(MIP)and Medicaid program. In addition, DPHSS shall have discretionary authority to utilize funds under this Program to provide direct cancer-related services and treatment for cancer patients under public assistance programs, and who are otherwise unable to meet their financial obligations for treatment. COL05272011 CH. 81 GEDCA TOBACCO SETTLEMENT REVENUE BOND ACT Two Million Dollars ($2,000,000) from the bond proceeds to refund the Guam Economic Development Authority Tobacco Settlement Asset Backed Bonds, Series 2001A and Series 2001B held in an account by the Guam Economic Development Authority shall be made available for the sole use of the Guam Cancer Assistance and Treatment Program as established and authorized by this Subsection (b)(1). The Director of the Department of Public Health and Social Services shall be the certifying authority of these funds. The Director of DPHSS shall transmit a report outlining the detailed expenditures of this Program to I Maga’lahen Guåhan and to the Speaker of I Liheslaturan Guåhan on a monthly basis.

(2)Six Million Dollars ($6,000,000) to the Department of Public Health and Social Services to fund the renovation and capital improvement needs of the Southern Regional Health Center.

(c)To the extent that the bond proceeds available for the purposes of subsection

(a)are more or less than the sum of the amounts in subsection (b), the amounts in subsection

(b)shall be increased or decreased, as applicable, pro rata.