University of Guam Sea Grant Special Fund

(a)The University of Guam Sea Grant Program managed by the University of Guam, Center for Island Sustainability, maintains a portfolio of federal cooperative agreements and grant-funded projects that provide an array of research and extension services to the people of Guam and Micronesia.

(b)To comply with federal matching requirements for grants under the Sea Grant Omnibus cooperative agreements, there is hereby established the University of Guam Sea Grant Special Fund (Fund), which shall be maintained separate and apart from any other funds of the government of Guam, and managed by the University of Guam, Center for Island Sustainability.

(c)A primary purpose of this Fund is to comply with federal requirements designating the University of Guam as a Sea Grant “Coherent Area Program,” and to support potential future designations as a “Sea Grant Institution” and “Sea Grant College Program.”

(d)Donations and charitable contributions relating to sustainability and coastal research and extension services may be deposited and credited to the University of Guam Sea Grant Special Fund. I Liheslatura may appropriate or reappropriate to the University of Guam Sea Grant Special Fund any local matching funds necessary for approved University of Guam programs consistent with research and extension programs in the areas of Sustainability and Coastal Science, and any related programs.

(e)All debts, liabilities and any other obligations incurred for programs described in this Section shall be paid from the University of Guam Sea Grant Special Fund.