wey
48
bonds or notes in an ageregate amount of not more than $36 million,
suant 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 Quam which may be or may become due pursuant to
any law andoffset the amount of such withheld payments against any
claim the United States may have against the Government of Guam. or
the Guam Power Authority pursuant to this guarantee, For the purpose of this Act, under Section 3466of the Revised Statutes (31 US.C.
191) the term “person” includes the Government of Guam and the
Guam Power Authority. The Secretary may place suchstipulations us
he deems appropriate on the bonds or other obligations he guarantees.
Poriic Law 95-134
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Sec. 204. (a) Notwithstanding any law or court decision to the con-
trary, the District Court of Guam is hereby granted authority and
jurisdiction to review claims of persons, ther heirs or legatees, from
whom interests in Jand on Guam were acquired other than through
cakes
sederenee
EDMawl Ghabaces
a otiokcheap
she ne eee ae
wr Tod
Fo:
,
Lhe Secretary, upon determining that the Guam. Power Authority ts
unable to refinance on reasonable terms the obligations purchused 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 Banh;
and such bank is authorized to purchase, obligations of the Quan
Power Authority issued to refinance the principal amount of the obtigations guaranteed under the fifth sentence of this section. The obligations that refinance such principal amount shall mature not later than
December 81, 1990, and shall bearinterest at a rate determined inaccordance with section 6 of the Federal Minaneing Bank Act (12
U.S.C. 2285), Should the Guam Power Authority fail to pay in full
any installment of interest or principal whendue on the bonds or other
obligations guarantecd under this section, the Secretary of the Treas-—
ury, 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 fromsums collected and payable pur-
ee ee ee a ee,
—US.C. 1421h).9
ee
wee 7s
“a ~
chase, receive or otherwise acquire these same. ‘The interest rate on
obligations purchased by the Federal Financing Bank shall be not less
than a rate determined by the Secretary of the Treasury taking into
consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturities, adjusted to the nearest one-eighth of L per centum, plus 1 per centum per
annum, The Secretary, with the concurrence of the Secretary of the
Treasury, may extend the cuarantee provision of the previous sentence
until December31, 1980. [Such guaranteed bonds or other obligations
shall, while outstanding, include a provision for semiannual payments
of interest only. If the Secretary determines that the Guam Power
Authority will not meet its obligation to pay interest, the Secretary
shall request the Secretary of the Treasury to deduct such payments
from sums collected and paid pursuant to Section 30 of this Act (48
rap to
and such bank, in addition to its other powers, is authorized to pur-