Financing

To minimize the cost to the government of Guam, financing utilized by the Contractor to fund the pre-development, construction of and FF&E services for the new Simon Sanchez High School shall be through tax-exempt obligations, or other financial instruments; provided, that such financing is available at an interest rate of no more than eight-and-a-half percent (8.5%). The contractor may use an alternative method of financing, including, but not limited to, a short-term debt, mortgage, loan, federally guaranteed loan, or loan by an instrumentality of the United States of America, including, but not limited to, Community Development Financial Institution

(CDFI)programs such as the Capital Magnet Fund, the EB-5 Immigrant Investor Program, New Markets Tax Credit financing, Community Reinvestment Act-motivated lending, or any other federally authorized financing mechanism, if such financing will better serve the needs of the people of Guam, subject to approval by I Liheslaturan Guåhan. The principal amount of financing authorized under this Section shall not exceed One Hundred Sixtysix Million Three Hundred Sixty-five Thousand Dollars ($166,365,000).