12 Guam Code Ann. § 80102
Terms Used In 12 Guam Code Ann. § 80102
- 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.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(a) assist persons interested in establishing or expanding commuter air service, and related facilities and services in Guam in obtaining information from and coordinating with government of Guam agencies, public corporations and Federal agencies represented in Guam;
(b) assist those persons interested in establishing or expanding commuter air service and related facilities on Guam in obtaining financing, by maintaining and disseminating information regarding
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12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 80 COMMUTER AIR SERVICES DEVELOPMENT
financing available through private and public sources;
(c) provide administrative and financial assistance, on such terms and upon such conditions as the Board may determine with respect to the preparation of feasibility studies relating to specific proposals for the development or expansion of commuter air service and related facilities on Guam;
(d) lease government-owned land with the consent of I Liheslaturan Guahan by resolution, at less than fair market value or sell land acquired by the Corporation to persons for the development and operations of commuter air service and related facilities, or for the expansion of existing commuter air service facilities and other related facilities;
(e) prepare or have prepared assessment of commuter air service facilities or services required for the construction and support of additional facilities, expansion of existing facilities, and the construction and use of related facilities;
(f) expend, on such terms and upon such conditions as it shall determine, such part of its funds may be uncommitted to pay for in whole or in part, additional infrastructure facilities or services which it has determined pursuant to Subsection (e) of this Section to be necessary for the accomplishment of its purposes; and
(g) make loans and to guarantee loans, only if it finds that there are no practical alternative sources of financing available. The Corporation may charge a fee, in addition to interest on any loan which makes or guarantees. The fee shall not exceed two percent (2%) of the amount of the loan. The fee shall be used by the Corporation to carry out the purposes of the Chapter. No loan made or guaranteed by the Corporation shall be assigned or otherwise, transferred directly or indirectly, without consent of the Corporation.