PUBLIC LAW 96-205—MAR.12, 1980

94 STAT. 88

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 3, delete the comma after

“United States�� and delete the words “with interest as set forth

below,” and

48 USC 1421h.

(2) after paragraph (c) of section 3, delete the last paragraph
before section 4 andinsert in lieu thereof:
‘All amounts heretofore withheld from sumscollected pursuant to
section 30 of the said Organic Act as interest on the amounts made
available to the government of Guam pursuantto this Act shall be
credited as reimbursement payments by Guam on the principal
amount advanced by the United States underthis Act.”.
Sec. 303. Section 11 of the Organic Act of Guam (64 Stat. 387; 48

U.S.C. 1423a), as amended, is hereby amended by deleting al! after
the words ‘December 31, 1980.”, and substituting the following
Guam Power
Authority,
refinancing
obligations.

language:

“The Secretary, upon determining that the Guam Power Authority

is unable to refinance on reasonable termsthe obligations purchased

by the Federal Financing Bank under the fifth sentence of this
section by December 31, 1980, may, with the concurrence of the

Secretary of the Treasury, guarantee for purchase by the Federal

Financing Bank; and such bankis authorized to purchase, obligations

of the.Guam Power Authority issued to refinance the principal
amountof the obligations guaranteed underthe fifth sentence ofthis

section. The obligations that refinance such principal amountshall
mature not later than December 31, 1990, and shal! bearinterest at a
rate determined in accordance with section 6 of the Federal Financing 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 underthis section, the Secretary of the Treasury, upon notice from the Secretary shall deduct and
pay to the Federal Financing Bank or the Secretary, according to

their respective interests, such unpaid amounts from sumscollected

and payable pursuant to section 30 of this Act (48 U.S.C. 1421h).
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, undersection
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
bondsor other obligations he guarantees.”’.

TITLE IV—VIRGIN ISLANDS
Sec. 401. (a) Subsection (b) of section 31 of the Revised Organic Act

of the Virgin Islands (48 U.S.C. 154Xb)), as amended,is further

amended by numbering the existing paragraph ‘(1)’ and by the
Property
transfer.

39 Stat. 1706.

addition thereto of the follcwing 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

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