Guam

Decision instrument

The legislature may issue bonds. The organic act does not require a territory-wide vote.

What public act authorizes the borrowing, and where is the purpose and the first-year cost written down? 48 U.S.C. § 1423a. Public indebtedness may not exceed 10% of the aggregate tax valuation of property in Guam. A bond payable only from the revenues of a public improvement is not public indebtedness under that section.

Debt statement

No Annual Debt Statement of the New Jersey kind.

What yearly filing states gross debt, deductions, and how close the issuer is to its limit? Guam debt is in the financial statements for the year ended September 30, 2024, Note 6. A later year was not the record used.

Debt limit

Public indebtedness stops at 10% of the aggregate tax valuation. The report states a debt ceiling of $1,401,144,416.

What cap binds a county or a city, and is the state's own ceiling a different rule? The organic act is the 10% rule. The management discussion describes that ceiling as 10% of assessed land value and prints outstanding bonds of $807,536,216 against it. General-obligation principal of $19,760,000 plus limited-obligation principal of $858,485,000 is $878,245,000, which is not $807,536,216. The report does not print the line that connects those figures. They are not forced together. Revenue bonds of a public improvement are outside the organic-act definition of public indebtedness.

Conflict rule

A member of a board or commission discloses an ownership interest of 5% or more. That sentence is a disclosure rule, not the whole conflict ban.

Which ethics statute covers local officers, what counts as an interest, and who is left out? 4 G.C.A. § 13104.1. The interest can be the member’s or a family member’s. The section points to § 15205 for the definition of a conflict. That definition was not quoted here, so it is not restated.

Geography

No counties. One island government.

What is the county-equivalent, and which cities, schools, and authorities must not be pasted onto that row? The census file used here has one Guam record. Villages are not invented, and no village dollar row is attached.

Primary money record

General obligation bond principal: $19.760 million, as of September 30, 2024. The payable with premium is $22.110 million.

Which audited report is the state's own number, and as of what date? Note 6. One series, 2019 Series A, original $27,610,000. Outstanding principal $19,760,000. Unamortized premium $2,349,547. Together $22,109,547. The bonds are backed by the full faith and credit of Guam. The year lines of principal add to $19,760,000.

Who pays the coupon

In the year ending September 30, 2025, those bonds need $2.060 million of principal and $936,500 of interest.

Which fund, tax, or rate is actually pledged — not which new store might show up later? Note 6. The interest column through the final year adds to $4,211,000. The principal column adds to the $19,760,000 outstanding.

Other obligors

Limited-obligation bonds: $858.485 million of principal. Do not add them to the $19.760 million.

Which authorities and districts borrow beside the state and must not be added to its total? Note 6. Unamortized premium is $106,022,637, so the payable is $964,507,637. The six series add to the $858,485,000. In the year ending September 30, 2025, they need $32,925,000 of principal and $39,522,819 of interest. Business-privilege-tax bonds, a Section 30 bond, and a hotel-tax bond are in that total. They are not general obligations.

Book-entry wall

Cede & Co., at the Depository Trust Company.

Who is the registered owner on ordinary public paper? Series-level confirmation still waits on that official statement. Beneficial owners stay unnamed.