Act No. 8540 — An Act amending title 29 Virgin Islands Code, by adding chapter 24 to authorize the sale of the Matching Fund Receipts and create a new enti
BILL NO. 34-0188 THIRTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2022 An Act amending title 29 Virgin Islands Code, by adding chapter 24 to authorize the sale of the Matching Fund Receipts and create a new entity named the “Matching Fund Special Purpose Securitization Corporation” to: (1) acquire during the Transfer Period all of the Virgin Islands Government’s right, title, and interest in the Matching Fund Receipts to be paid to or for the account of the Government by the United States Treasury and the Related Rights, (2) issue Matching Fund Securitization Bonds and the Residual Certificate in order to pay the purchase price therefor and as otherwise authorized under the act, and (3) direct the Secretary and the United States Department of Interior to pay the Matching Fund Receipts directly into the Deposit Account; to approve the issuance by the Virgin Islands Public Finance Authority or other entity of the GERS Funding Note to the Government Employees’ Retirement System for deposit as an in-kind contribution by the Government to the GERS; to ratify the amendments …
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