Act No. 8701 (35th Legislature) — An Act authorizing the Governor to utilize monies from public funds of the Virgin Islands to create working capital, to engage in a line of
ACTNO. 8701 BILL NO. 35-0070 THIRTY-FIFTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2023 An Act authorizing the Governor to utilize monies from public funds of the Virgin Islands to create working capital, to engage in a line of credit in the maximum amount of $100,000,000 to provide for the disbursement of funds needed to advance disaster-related recovery projects that are reimbursable through federal flinding and other disaster-related projects and provide funding to advance payment of the $45,000,000 towards the buyout of the infrastructure agreement between the Virgin Islands Water and Power Authority and VITOL and the acquisition of the LPG facilities and to issue the Series 2023 Notes ---0--- WHEREAS, the Virgin Islands is still slowly recovering from the devastating financial impacts of the two 2017 Category 5 Hurricanes, Irma and Maria, as well as Hurricane Dorian in 2019; WHEREAS, damage to the Territory caused by Hurricanes Irma, Maria, and Dorian totaled a loss upwards often billion dollars; WHEREAS, the Territory is currently rebuilding from all three devastating …
Download the original document · Browse the archive · How this archive works
Archive identifier LF-793aef5125c1