{"data":{"id":"us-gu/5-gca-22803","jurisdiction":"us-gu","citation":"5 GCA § 22803","heading":"Terms and Conditions of the Bonds; Governor’s Certificate.","body":"The Governor has assured the Legislature that interest rates in the nation’s capital markets are more favorable than the current six per cent (6%) required to be paid on income tax refunds owed, and that such rates vary between three and nine-tenths percent (3.9%) and five and three-quarters percent (5.75%). In the event the Governor elects to issue the Bonds their terms and conditions shall be determined by the Governor upon or prior to their issuance by his execution of a certificate authorizing such issuance. The certificate shall contain such terms and conditions as are consistent with this § 22811. The Bonds shall mature at such times as are not later than sixty (60) months after the date of their issuance, and shall bear interest at a fixed or variable rate, not exceeding a net effective yield of seven percent (7%) per annum.","path":["Title 5: Government Operations","Division 2 - Administration of the Government","Chapter 22: General Fiscal Policies and Controls","ARTICLE 8: TAX REFUND BONDS"],"source_url":"https://col.guamcourts.gov/sites/default/files/5gc022.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T02:19:48Z","sha256":"f6fb7505c180a92d2eba21d94445dd0f3b2dd8a6555959f0ede6ee7e30d76f87","source_id":"us-gu","stale":false,"prev":"us-gu/5-gca-22802","next":"us-gu/5-gca-22804"},"notice":"GroundRules: Original legal text. Not legal advice."}