Notwithstanding the provisions of § 5403 (Allocation of Proceeds from Sale or Disposal of Surplus Supplies), when the Port Authority of Guam engages in disposing of excess or surplus supplies and equipment that were purchased with funds generated from rates, tariffs, or other sources of the Port Authority of Guam and not from the General Fund, ninety percent (90%) of the total proceeds from the sale, lease or disposal shall revert to the Port Authority of Guam and the remaining ten percent (10%) of the total proceeds shall be deposited into the Guam Procurement Advisory Council Support Fund, and shall be administered in accordance with § 5906 of this Chapter. The Port Authority of Guam shall not transfer, sell, trade-in, or otherwise dispose of supplies and equipment owned by the Port Authority of Guam without the authorization of the Port Authority’s Board of Directors.

SOURCE: Added by P.L. 32-081:2 (Nov. 27, 2013).

———-

ARTICLE 9
LEGAL AND CONTRACTUAL REMEDIES

Subarticle A. Pre-Litigation Resolution of Controversies. Subarticle B. Solicitations or Awards in Violation of Law. Subarticle C. Interest.
Subarticle D. Waiver of Sovereign Immunity; Limitations on
Actions.
Subarticle E. Procurement Data.

SUBARTICLE A
PRE-LITIGATION RESOLUTION OF CONTROVERSIES