Cer ani Oe ee ef - . ee oe ee The Secretary, upon determining that the Guam Power Authority is unable to refinance on reasonable tems the obligations purchased by the Federal Financing Bank under the fifth sentence of this section by ~Decenber 31, 1980, 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, Cbligations 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 Decenber 31, 1990, and shall bear interest at a rate determined in accordance with section 6 of the Federal Financing Bark 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 from the Secretary; shall deduct and pay to the Federal Pinancing Bank or the Secretary, according to their respective interests, such umpaid amounts from sums collected and payable pursuant to section 30 of this Act (48 U.S.C. 1421h). Notwithstanding any other provisions of la, Acts making appropriations may provide for the withholding of any payments from the United States to the Goverrmment of Guam which may be or may become due pursuant to ary law and offset the amomt of such withheld payments against any claim the United States may have against the Goverment of Guam or the Guam’ Power Authority pursuant to this guarantee. For the purposes of this Act, under section 3466 of the Revised Statutes (31 U.S.€. 291) the term “patson" includés the - _ Section 401 ce Section 401 would extend the guaranteed borrowing authority granted to the Virgin Islands under P.L. 94-392 from the October 1, 1979 Geadline to October 1, 1989. ‘The purpose of P.L. 94-392 was to _ provide construction funds for economic stimulation in 1976 and for _ urgently needed public facilities. ‘The Goverment of the Virgin Islands has not, however, used much of this guaranteed borrowing authority to finance capital projects. Of the $61,000,000 in guaranteed borrowirg authority granted the Virgin Islands under 12 .