Act No. 6289 (23rd Legislature) — an act of appropriation. ===== PAGE 3 ===== (3) ‘Debt’ means the total accumulated unpaid obligations that are due and payable including unp
Act No. 6289 (BILL NO. 23-0059) (Approved August 23, 1999) "The Government Financial Accountability Act of 1999" Be it enacted by the Legislature of the Virgin Islands: SECTION 1. This Act shall be known and may be cited as "The Government Financial Accountability Act of 1999". SECTION 2. (a) The Legislature of the Virgin Islands hereby finds and declares: (1) On September 10, 1997, the Federal Inspector General of the Department of the Interior found that the operating debt of the Government of the Virgin Islands was $588 million. This amount decreased to $482 million after the Government paid out $106 million for income tax refunds and vendor payments using May, 1998 bond proceeds. However, the amount of the operating debt again grew to $541 million due to a $59 million increase in the amount of retroactive wages owed to Government employees from $141 million to $200 million. …
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