Bill No. 36-0196 — Budget, Appropriations and Finance, November 4 2025
COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE BILL NO. 36-0196 Thirty-Sixth Legislature of the Virgin Islands October 27, 2025 An act appropriating excess debt service reserve funds for certain capital projects in the territory PROPOSED BY: Senator Milton E. Potter, by Request of the Governor Be it enacted by the Legislature of the Virgin Islands: 1 SECTION 1. The sum of $10,000,000, or so much of that sum as is necessary, is 2 appropriated in the fiscal year ending September 30, 2025, from the excess funds contained in 3 the Debt Service Reserve Fund established under the Indenture of Trust for the Gross Receipts 4 Taxes Revenue Bonds issued by the Virgin Islands Public Finance Authority to the Virgin 5 Islands Port Authority and the Department of Public Works for the following projects: 6 (a) Virgin Islands Port Authority – 7 1. demolition of the Adelita Cancryn Junior High School - $2,000,000; 8 2. dredging for maritime access projects - $6,000,000 9 (b) Department of Public Works – completion of the “Leonardo Nardo Trotman Drive” 10 expansion project - $2,000,000. …
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COMMITTEE ON BUDGET, APPROPRIATIONS AND FINANCE BILL NO. 36-0196 Thirty-Sixth Legislature of the Virgin Islands October 27, 2025 An act appropriating excess debt service reserve funds for certain capital projects in the territory PROPOSED BY: Senator Milton E. Potter, by Request of the Governor Be it enacted by the Legislature of the Virgin Islands: 1 SECTION 1. The sum of $10,000,000, or so much of that sum as is necessary, is 2 appropriated in the fiscal year ending September 30, 2025, from the excess funds contained in 3 the Debt Service Reserve Fund established under the Indenture of Trust for the Gross Receipts 4 Taxes Revenue Bonds issued by the Virgin Islands Public Finance Authority to the Virgin 5 Islands Port Authority and the Department of Public Works for the following projects: 6 (a) Virgin Islands Port Authority – 7 1. demolition of the Adelita Cancryn Junior High School - $2,000,000; 8 2. dredging for maritime access projects - $6,000,000 9 (b) Department of Public Works – completion of the “Leonardo Nardo Trotman Drive” 10 expansion project - $2,000,000. 11 2 SECTION 2. The sums appropriated in section 1 of this act remain available until 1 expended. 2 BILL SUMMARY 3 This bill appropriates the sum of $10,000,000 from the excess funds contained in the Debt 4 Service Reserve Fund established under the Indenture of Trust for the Gross Receipts Taxes 5 Revenue Bonds issued by the Virgin Islands Public Finance Authority for the demolition of the 6 Adelita Cancryn Junior High School, the expansion project for the Leonardo “Nardo” Trotman 7 Drive and the dredging for maritime access projects of the Virgin Islands Port Authority. 8 BR25-0820/August 28, 2025/AA 9