5 Guam Code Ann. § 69106
Terms Used In 5 Guam Code Ann. § 69106
- 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.
- 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
COL 041309
5 Guam Code Ann. GOVERNMENT OPERATIONS
CH. 69 GUAM SLAUGHTERHOUSE CORPORATION ACT
The site for the construction of the slaughterhouse is designated as Lot 7150-R4-NEW-1-1, Municipality of Yigo, as shown on Land Management Drawing No. CC-8925Y, Certificate of Title 76418, registered on March 19, 1984, containing an area of 8,094 square meters (the “”Property””), and belonging to the government of Guam.
Lot No. 7150-R-4-NEW-1-1 is hereby transferred from the Chamorro Land Trust Commission to the Corporation for the purpose of implementing this Act.
Notwithstanding any other law, rule or regulation, the Corporation shall be granted a fifty (50) year lease on the property designated for the slaughterhouse as authorized herein, at a rent of One Dollar ($1.00) per year; provided, that if the property is employed for purposes other than as a slaughterhouse or other auxiliary purpose as authorized by this Act, the property shall be reverted to the Chamorro Land Trust Commission immediately.