12 Guam Code Ann. § 4105
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Terms Used In 12 Guam Code Ann. § 4105
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Every Bond issued by the Housing Corporation pursuant to this Chapter shall be a special obligation of the Housing Corporation payable solely from the revenues and other property specified in the indenture or resolution providing for the issuance of such bond. Every bond shall recite that it is not public indebtedness of the Territory of Guam as that term is used in §11 of the Organic Act.
SOURCE: GC § 20003.1, as added by P.L. 16-42. Amended by P.L. 24-
81:6.