Validity of Authorization and Issuance of Bonds

The validity of the authorization and issuance of any bonds by the Board, with the approval of I Maga’håga/Maga’låhi, is not dependent on nor affected in any way by: CH. 8 GUAM POWER AUTHORITY

(a)Proceedings taken by the Board for the acquisition, construction or completion of the system or any part thereof;

(b)Any contracts made by the Board in connection with the acquisition, construction or completion of the system or any part thereof; or

(c)The failure to complete the system or any part thereof for which bonds are authorized to be issued.