5 Guam Code Ann. § 8114
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Terms Used In 5 Guam Code Ann. § 8114
- Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
Any action taken at a meeting in violation of any Section of this Chapter shall be void and of no effect, provided that this nullification of actions taken at such meetings shall not apply to any commitment, otherwise legal, affecting the public debt of the entity concerned.
SOURCE: GC § 3238 added by P.L. 13-35.