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. 94 STAT. 88
PUBLIC LAW 96-205—MAR.12, 1980
Sec. 302. The Act of November 4, 1963 (77 Stat. 302), to provide for
the rehabilitation of Guam, and for other purposes, is hereby
amended as follows:
(1) in the first sentence of section 8, delete the comma after
“United States” and delete the words “with interest as set forth
below,” and
(2) after paragraph (c) of section 3, delete the last paragraph
before section 4 and insertin lieu thereof:
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48 USC 1421h.-
“AH amounts herctofore withheld from sums collected pursuant to
section 30 of the said Organic Act as interest on the amounts made
avuilable to the government of Guam pursuant to this Act shall be
credited as reimbursement payments by Guam on the principal:
amount advanced by the United States under this Act.”.
Sec. 303. Section 11 of the Organic Act of Guam (64 Stat. 387; 45
U.S.C. 1423a), as amended, is hereby amended by deleting all ufter
Guam Power
Authority,
refinancing
obligations.
the words “December 31, 1980.”, and substituting the following
language:
“The Secretary, upon determining thut the Guam Power Authority
is unable to refinance on reasonable terms the oblivations purchased
by the Federal Financing Bank under the fifth sentence of this
section by December 31, 1950, may, with the concurrence of the
Secretary of the Treasury, guarantee for purchase by the Federal
Financing Bank; and such bank is authorized to purchase, obligations
of the Guam Power Authority issued to refinance the principal
amount of the obligations guaranteed under the fifth sentence of this
section. The obligations that refinance such principal amount shall
mature not later than December 31, 1990, and shall bear interest ata
rate determined in accordance with section 6 of the Federal Financ-
ing Bank Act (12 U.S.C. 2285). Should the Guam Power Authority fail
to pay in full any installment of interest or principal when due on the
bonds or other obligations guaranteed under this section, the Secretary of the Treasury, upon notice froin the Secretaryshall deduct and
pay to the Federal Financing Bank or the Secretary, according to
their respective interests, such unpaid amounts from sums collected
and payable pursuant to section 30 of this Act (48 U.S.C. 142th).
Notwithstanding any other provision of law, Acts making appropriations may provide for the withholding of any payments from the
United States to the government of Guam which may be or may
. become due pursuant to any law and offset the amount of such
withheld payments against any claim the United States may have
“Person.”
against the government of Guam or the Guam Power Authority
pursuant to this guarantee. For the purpose of this Act, under section
3466 of the Revised Statutes (31 U.S.C. 191) the term ‘person’ includes
the government of Guam and the Guam Power Authority. The
Secretary may place suchstipulations as he deems appropriate on the
bonds or other obligations he guarantces.”.
TITLE IV—VIRGIN ISLANDS
Sec. 401. (a) Subsection (b) of section 31 of the Revised Organic Act
Property
transfer.
39 Stat. 1706.
of the Virgin Islands (48 U.S.C. 1545{b)), as amended, is further
amended by numbering the existing paragraph “(1)” and by the
addition thereto of the following new paragraph:
“(2) Subject to valid existing rights, title to all property in the
Virgin Islands which may have been acquired by the United States
from Denmark under the Convention entered into August 16, 1916,
not reserved or retained by the United States in accordance with the