Act No. 7454
ACT ND 87%454 BILL NO. 29-0387 TWENTY-NINTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2012 To authorize the issuance of bonds, notes or other evidences of indebtedness of the Government of the Virgin Islands (the “Government”) and/or the Virgin Islands Public Finance Authority (the Authority”) for the purpose of providing funds to (i) finance all or a portion of the costs of the Series 2012 Energy Projects (defined below) in an amount up to $35,000,000, (ii) fund any necessary reserves, (iii) pay the costs of issuance of the Series 2012 Matching Fund Revenue Bonds and Series 2012 Energy Projects MFR Loan Notes or, in the alternative, the Series 2012 Gross Receipts Taxes Bonds and the Series 2012 Energy Projects GRT Loan Notes (each as defined below), and (iv) pay costs of any liquidity facility or bond insurance relating to the Bonds authorized herein and (v) authorize the Government and the Authority to enter into certain agreements, pledge the Matching Fund Revenues (as hereinafter defined) or the Gross Receipts Tax Revenues (as hereinafter defined) of the Government, and i …
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