(a) I Maga’lahen Guåhan is authorized by this Section to enter into a debt agreement on behalf of the Government of Guam for the sole purpose of financing the purchasing and shipping of equipment for the Guam Fire Department and to secure such loan by proceeds from the FLAME Fund (10 Guam Code Ann. § 72106). I Maga’lahen shall enter into such an agreement subject to the concurrence of the Legislature by statute, and the members shall not incur any personal liability for any loan agreement lawfully entered into. The debt agreement shall become effective as of the date the Legislature concurs by statute. 12 Guam Code Ann. § 2103(k) shall apply to the loan obtained pursuant to this Chapter. The term of the debt agreement shall not exceed ten (10) years. For purposes of this Section, the form of the debt instrument for the “”debt agreement”” may be a loan, bond or other form of debenture. The choice of the debt instrument shall be the instrument with the lowest cost of funds in terms of net present value of the origination costs and future payments.

(b) Equipment to be purchased:

Item

Highrise Apparatus
Quantity Estimate (ea)

Cost Cost Total
–
Ladder Truck
Extension
Highrise Apparatus
–
Elevated Platform
Fire Trucks (fully

1 1,300,000 $1,300,000

1 1,300,000 1,300,000
equipped) 4 500,000 2,000,000
Tankers (5,000
Gallons) 2 300,000 600,000Ambulances (fully
equipped) 4 275,000 1,100,000
Rescue Boats (fully
equipped) 2 390,000 780,000
Heavy Duty trucks
(tow boats)
District Commander
2 50,000 100,000
Vehicles 2 40,000 80,000
Jet Skis (fully
equipped) 3 20,000 60,000
Special Rescue
Vehicles (ALS) 3 50,000 150,000
Defibrillators (one
for
each fire truck) Emergency Equipment
(Jaws of Life, etc.)
10 30,000 300,000

80,000
Total $7,850,000

SOURCE: Added by P.L. 29-113:VI:51 (Sept. 30, 2008).