{"data":{"id":"us-gu/12-gca-66123","jurisdiction":"us-gu","citation":"12 GCA § 66123","heading":"Payments Which May be Made Out of Proceeds of Sale of Bonds.","body":"The proceeds of sale of any bonds may be expended for any one or more of the following purposes, all as provided in the indenture relating to such bonds:\n(a) For the acquisition of notes of any person secured by a mortgage described in §2103(i) of this Title to accomplish any lawful purpose of the Authority;\n(b) For the payment of legal and fiscal fees and costs relating to the issuance and sale of the bonds;\n(c) For payment of any other costs or expenses relating to the authorization, issuance or sale of bonds;\n(d) For deposit in any one or more reserve funds or accounts or in any working capital fund or account or contingency fund or account relating to mortgage acquisition;\n(e) For payment of interest on bonds during the period of actual mortgage acquisition;\n(f) For payment of trustees’ fees and costs and fees incurred by it;\n(g) For payment of the principal of and interest on any indebtedness incurred pursuant to this Chapter that is by its terms repayable from the proceeds of sale of bonds.","path":["Title 12: Autonomous Agencies","Division 2 - Economic Development","Chapter 66: Mortgage Revenue Bonds"],"source_url":"https://col.guamcourts.gov/sites/default/files/12gc066.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T03:25:18Z","sha256":"8d9ab7e4152f42e35428a617e1dfc175f26860515772361946b3be813de89897","source_id":"us-gu","stale":false,"prev":"us-gu/12-gca-66122","next":"us-gu/12-gca-66124"},"notice":"GroundRules: Original legal text. Not legal advice."}