Act No. 7404 (29th Legislature) — An Act amending Act No. 7342 to increase the principal amount of working capital indebtedness to include the financing of certain past due a
ACT NO. 7404 BILL NO. 29-0386 TWENTY-NINTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2012 An Act amending Act No. 7342 to increase the principal amount of working capital indebtedness to include the financing of certain past due and currently payable workers compensation claims and provider services and to clarify that such aggregate principal amount authorized therein shall represent the proceeds of such bonds required to finance such working capital needs of the Government as authorized; and Act No. 7064, as amended by Act No. 7096 and Act No. 7174, limiting the bonds subject to redemption from the four percent of surplus annual Matching Fund Revenues on deposit in the Government Account held under the Diageo Subordinated Indenture and the Cruzan Subordinated Indenture, after prepayment of the Working Capital Credit Facility, to notes and bonds subject to optional redemption; and for other purposes ---0--- Be it enacted by the Legislature of the Virgin Islands: SECTION 1. The first sentence of Act No. …
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