Approval of GEDA

Subparagraph

(k)of § 2103 of Title 12, Guam Code Annotated, provides that agencies and instrumentalities of the government of Guam shall issue obligations only by means of and through the agency of GEDA, and that GEDA shall not sell any obligation without the approval of the Legislature on its terms and conditions. In view of the urgency for the issuance of the Bonds, at any time such issuance may be necessary, the Bonds issued hereunder are hereby exempted from the requirement of said subparagraph

(k)that the Legislature further approve the terms and conditions of the issuance of the Bonds.