Act No. 6591 (25th Legislature)
ACT NO.6991 BILL NO. 25-0053 TWENTY-FIFTH LEGISLATURE OF THE VIRGIN ISLANDS OF THE UNITED STATES Special Session 2003 To amend Act No. 6587 (Bill No. 25-0052) pertaining to the issuance of bonds and for other related purposes ---()--- BE IT ENACTED by the Legislature of the Virgin Islands: SECTION 1. Act No. 6587 (Bill No. 25-0052 is hereby amended in the following instances: (a) In the fifth WHEREAS clause, item (iv), insert the phrase “and capitalized interest” afler the word “reserves”. (b) In section 1 (a), insert the phrase “of obligations including one or more bond anticipation notes (BANs) to be refinanced with the proceeds of permanent obligations” after the words “aggregated pnincipal amount”. (c) In section 1 (a) (iv), insert the phrase “and capitalized interest” after the word “reserves”. (d) In section 1 (a), add the sentence “The principal amount of Bonds issued to refinance any BANs will not count against the $235,000,000 limitation” as the last sentence in subsection (a). …
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