(a) There is hereby established a fund to be known as the ‘Public Market Revolving Fund,’ which shall be maintained separate and apart from any other funds of the government of Guam. The President of Chamorro Affairs shall administer the Fund. Independent records and accounts shall be maintained in connection therewith.

(b) Funds of the Public Market Revolving Fund shall be used exclusively for the administration, operation and maintenance of the Public Market.

(c) All funds collected from fees levied pursuant to § 87138 shall be deposited in the Public Market Revolving Fund.

(d) An audit shall be conducted by the Public Auditor for regulatory compliance at least once every two (2) years.

(e) Revenues and expenditures from the Public Market Revolving Fund shall be reported to the Speaker of I Liheslaturan Guåhan at the end of each month and such report shall be posted on the Department’s website.

SOURCE: Added by P.L. 28-068:IV:57 (Sept. 30, 2005). Renumbered by
Compiler pursuant to authority granted by 1 Guam Code Ann. § 1606.

2016 NOTE: This section was originally entitled, “”Irensia Board Duties. Added by P.L. 25-069:1 (July 8, 1999) and repealed by P.L. 27-089:5 (May 6, 2004).

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