5 GCA § 6.12
Annual Budgets
View official PDF ↗The Government shall file with the Trustee, the Depositary and each Credit Provider, on or before the day on which the 1997 Series A Bonds are issued, a budget setting forth the estimated amounts required to be transferred by the Trustee pursuant to subsections _______(c)(1) and
(2)of the Act, separately stated, for the period from such date until the close of the then current Fiscal Year. On or before the first day of each Fiscal Year thereafter, the Government shall file with the Trustee, the Depositary and each Credit Provider, a budget setting forth the estimated amounts to be so transferred and other costs and expenses, separately stated, to be paid from Revenues for such Fiscal Year. The Government may from time to time amend any budget filed pursuant to THIS section by filing such amendment with the Trustee, the Depositary and each Credit Provider. In the absence of a budget for any Fiscal Year, the Trustee and the Depositary shall assume that the budget for such Fiscal Year is the same as the final budget for the prior Fiscal Year.
Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.