ee
Mar. 12
Sec. 302. The Act of November4, 1963 (77 Stat. 302), to provide for
the rehabilitation of Guam, and for other ‘purposes,. is hereby
amendedas 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’)
7
(2) after paragraph (c) of section’ 3, delete the last paragraph
48 USC 1421h.
before section 4 and insert in heu thereof:
“All amounts heretofore withheld from sums collected‘pursuant to
section 30 of the said. Organic Act as interest on the amounts made
available 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; 48
U.S.C. 1423a), as amended,is hereby amended by deleting all 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 terms the 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, guarentee for purchase by the Federal!
Financing Bank; and such bankis authorized to purchase, obligations
of the Guam Power. ‘Authority issued to refinance the principal
amount of the obligations guaranteed underthefifth 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 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 Secre-
tary 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 sums collected
and payable pursuant to section 30 of this Act (48 U.S.C. 1421h).
Notwithstanding any other provision of law, Acts making appropri-
ations may provide for the withholding of any payments from the
United States to the government of Guam which may be or may
7
=
+
become due pursuant to any law and-offset the amount of such
_
%
at
withheld payments against any claim the United States may have
i
a
. “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 mayplace suchstipulationsas he deems appropriate on the
led
es
Hy
5
bonds or“other obligations he guarantees,”
A
gp (ts
oh “ae
“
Sec. 401. (a) Subsection (b) of section 31 of the Revised Organic Act
of the Virgin Islands (48 U.S.C. 1543(b)), as amended, is further
amended by numbering the existing paragraph “(” and by the
transfer.
39 Stat. 1706,
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
94 STAT. 88
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Mar. 12
provisions
to the Vir;
. (b) The
mortgage
Virgin Isle
tration, ap
tion. of th
governme!
such ten ac
Sec. 402.
Property 0
States 1s
extension,
Congress.
Sec. 403
Virgin Isla
zation fees
cost of co!
attributab!
the import
vided, Tha
ant to the
the Treasu
sion of law,
(b) The |
collection c
1979, is her
Sec. 404.
457, 491)is
Sec. 405.
Islands ma
Islands ma
commoditi:
Sec. 406.
this Act, tl
shall conve
United Sta
Court Builk
is located),
Governmer
Sec. 107.
authorize t
anticipatio
such bonds
other, purpx
amended t
thereof the
“TITLE IV—VIRGIN ISLANDS»
Property
LN den yin ee
LAWS OF 96th CONG.—Ist SESS.
P.L, 96-205
Le et hemp.
ape area
oe
ap oe
be issued b:
may be ob
October 1,
bonds or o:
Islands pur
governmen
Interest. Sk
Istands’ m:
requisite ar
wise be pai
28(b) of the