Act No. 8292 (33rd Legislature) — An act authorizing the Governor to borrow monies from public funds of the Virgin Islands to offset cash flow problems caused by shortfalls r
ACTNO. 8292 BILL NO. 33-0287 THIRTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Emergency Session 2020 An act authorizing the Governor to borrow monies from public funds of the Virgin Islands to offset cash flow problems caused by shortfalls resulting from the COVID-19 Virus Pandemic in the collection of revenues, and to create working capital, avoid layoffs of Government Employees, pay essential obligations and meet the operating expenses of the Government for fiscal year 2020 and to issue a renew anticipation note in the maximum amount of $120,000 to provide funding for authorized governmental operations WHEREAS, The Coronavirus Disease 2019 (“COVID-19”) has negatively impacted commerce, tourism and revenues of the Virgin Islands; and WHEREAS, travel world-wide has almost come to a halt due to the advent of COVID-19 ultimately resulting in sharp declines in the territory’s GDP, industries that heavily depend on tourism where many residents are employed; and WHEREAS, all cruise ship calls to the Territory have been suspended for at least sixty days, crippling the Virgin Islands economy; …
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