21 Guam Code Ann. § 68501
Terms Used In 21 Guam Code Ann. § 68501
- 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
- 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.
- Statute: A law passed by a legislature.
After the taking as described in Subsection (a) of this Section and notwithstanding any other provision of law, with the prior approval of the Governor and prior approval of the Guam Legislature, the Governor of Guam, or his designee, shall acquire by purchase, land exchange or other means of transfer or, if the parties cannot agree upon terms for acquisition by
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such means, by condemnation, the following lots contained within the area described in Subsection (a): 1286 REM-1-1; 1286-1-1; 1288-1-1; 1288-1-1;
1289; 1290; 1291-1; 1292; 1293; 1294; 1295-1; 1298-1; 1297-1; 1298
REM; 1299-1; 1300; 1301-2; 1301-4 NEW; 1301-5; 1301-6; 1301-6-1;
1301-7; 1301-8; 1301-9; 1301-REM; 1303-1-2; 1303-1-3; 1303-1-4; 1303-
1-R4; 1303-2; 1303-4; 1309; 1310; 1311; 1312; 1312-1; 1313; 1214; 1315;
1316; 1317; 1318; 1319; and 1320.
Condemnation proceedings instituted for this purpose shall be conducted in accordance with the provisions of Chapter 15 of this Title, or any other applicable Government of Guam statute. Before any such condemnation proceedings are instituted, an effort shall be made to acquire the property involved by negotiation. In any such condemnation proceedings, and in the interest of expedition, the issue of just compensation may be determined by a committee of three qualified disinterested persons to be appointed by the Governor of Guam. The three disinterested appraisers shall determine how much the government should offer for each parcel of land, using the following criteria:
(1) the fair market value of the land;
(2) the actual cost (based at acquisition) and value of any improvements installed or constructed; and
(3) relocation payments (mortgages and losses for work not compensated.)
If any landowner refuses to accept the amount of the offer, then the government of Guam shall promptly institute condemnation proceedings in the Superior Court of Guam, and deposit into the Court an amount not less than the value set by the three (3) appraisers. Such sums shall be invested in time certificates of deposit at whichever bank on Guam offers the highest rate of interest, with interest to be paid to the landowner as it accrues.
Any condemnation hearing hereunder shall be heard by a judge pro tem appointed by the Judicial Counsel.
(b) [Repealed.] (c) [Repealed.]
(d) Obligations due the Government of Guam by owners of property within the boundaries described in Subsection (a) of this section may be wholly or partially offset in an amount equal to the value of such land
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acquired. Such obligations to the value of such land acquired by the government may include real estate tax liability, business privilege tax liability, interest due the Government of Guam on any of the aforementioned obligations, plus rental or lease of Government of Guam land for agricultural or other purposes.
(e) Fractional lots within the boundaries of the property described in Subsection (a) which have not been taxed within the past five (5) years shall be assumed to have a tax obligation to the Government of Guam based on current fair market value of the land at the time of the acquisition.
SOURCE: GC § 13525.1 added by P.L. 17-82:2 (Dec. 12, 1984). P.L. 19-6:3 (Aug.
26, 1987) repealed and reenacted §§ (a)(1)-(3), (d), and (e); and repealed §§ (b) and (c). Pursuant to P.L. 29-002:VI:28 (May 18, 2007) the reference to Gross Receipts Tax was amended to Business Privilege Tax.
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ARTICLE 6
SOUTHERN DEVELOPMENT MASTER PLAN
SOURCE: This Article was enacted as uncodified law by P.L. 19-038 (Dec. 30,
1988. Sections 1 through 10 of P.L. 19-038 were codified as 21 Guam Code Ann. §§ 68601-
68610 by the Compiler pursuant to authority granted by 1 Guam Code Ann. § 1605.