10 GCA § 72108: Authorization to Borrow.

(a) I Maga’lahen Guåhan is authorized by this Section to enter into a debt agreement on behalf of the Government of Guam for the sole purpose of financing the purchasing and shipping of equipment for the Guam Fire Department and to secure such loan by proceeds from the FLAME Fund (10 GCA § 72106). I Maga’lahen shall enter into such an agreement subject to the concurrence of the Legislature by statute, and the members shall not incur any personal liability for any loan agreement lawfully entered into. The debt agreement shall become effective as of the date the Legislature concurs by statute. 12 GCA § 2103(k) shall apply to the loan obtained pursuant to this Chapter. The term of the debt agreement shall not exceed ten (10) years. For purposes of this Section, the form of the debt instrument for the “debt agreement” may be a loan, bond or other form of debenture. The choice of the debt instrument shall be the instrument with the lowest cost of funds in terms of net present value of the origination costs and future payments.

(b) Equipment to be purchased:

Item

Quantity

Estimate

(ea)

Cost Cost Total

Highrise Apparatus

–

Ladder Truck

Extension

1 1,300,000 $1,300,000

Highrise Apparatus

–

Elevated Platform

1 1,300,000 1,300,000

Fire Trucks (fully

equipped) 4 500,000 2,000,000

Tankers (5,000

Gallons) 2 300,000 600,000

Ambulances (fully

equipped) 4 275,000 1,100,000

Rescue Boats (fully

equipped) 2 390,000 780,000

Heavy Duty trucks

(tow

boats)

2 50,000 100,000

District Commander

Vehicles 2 40,000 80,000

Jet Skis (fully

equipped) 3 20,000 60,000

Special Rescue

Vehicles (ALS) 3 50,000 150,000

Defibrillators (one

for

each fire truck)

10 30,000 300,000

Emergency

Equipment

(Jaws of Life, etc.)

80,000

Total $7,850,000