17 Guam Code Ann. § 16139
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Terms Used In 17 Guam Code Ann. § 16139
- 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
Notwithstanding any other provision of law, including 21
GCA § 60112(a), the University of Guam is authorized to lease its properties, with the exemption of University of Guam Lot No.
5397 to comply with 21 Guam Code Ann. § 681503, for a period up to but not
exceeding thirty (30) years, without prior Legislative approval, in order to create public-private partnerships as well as diversify the revenue streams of the University. The University shall hold a public hearing and allow for sixty (60) calendar days for public comment before executing such a lease. The University shall follow all appropriate laws and regulations to enter into any lease for a period exceeding thirty (30) years.
GCA § 60112(a), the University of Guam is authorized to lease its properties, with the exemption of University of Guam Lot No.
5397 to comply with 21 Guam Code Ann. § 681503, for a period up to but not
exceeding thirty (30) years, without prior Legislative approval, in order to create public-private partnerships as well as diversify the revenue streams of the University. The University shall hold a public hearing and allow for sixty (60) calendar days for public comment before executing such a lease. The University shall follow all appropriate laws and regulations to enter into any lease for a period exceeding thirty (30) years.
SOURCE: Added by P.L. 35-114:13 (Dec. 11, 2020).