Acquisition of Office Space & Other Facilities

COL4/6/2022 CH. 22 GENERAL FISCAL POLICIES AND CONTROLS

(a)The Governor is authorized to acquire on behalf of the government of Guam, by lease or lease-purchase agreement, office space and other facilities for the purpose of providing office and other space for the departments and agencies of the Judicial and Executive Branches of the government of Guam. Such leases and lease-purchase agreements may be negotiated and entered into by the Governor with any person, partnership, corporation, or public or private entity, provided that no such lease or leasepurchase agreement shall exceed 50 years.

(b)The Governor is further authorized to sublease space and facilities acquired pursuant to

(a)hereof, and to lease other available space and facilities, to authorized federal agencies.

(c)All lease or lease-purchase agreements that are proposed to be entered into pursuant to

(a)hereof, where the total sum of money to be paid to the same lessor shall exceed $10,000 or the total number of years involved shall exceed five years, may be entered into only after advertising for sealed bids in a newspaper of general circulation within Guam, 14 days prior to the formal bid opening, and then only to the lowest responsible bidder.