Act No. 6485 (24th Legislature)
ACT NO.6485 BILL NO. 24-0210 TWENTY-FOURTH LEGISLATURE OF THE VIRGIN ISLANDS OF THE UNITED STATES Special Session 2001 To authorize the issuance of revenue bonds and/or notes for various public and private Capital projects ---)-— BE IT ENACTED by the Legislature of the Virgin Islands: SECTION 1. The Government acting through the Governor or the Commissioner of Finance and the V.]. Public Finance Authonity (“the Authority”) is authorized to issue revenue bonds and/or notes for the purposes of financing the following projects in the folowing respective maximum aggregate principal amounts: (a) Borrower: Virgin Islands Housing Authority- to fund permanent mortgages for the multi-family and single-family homes at the Louis E. Brown Development in St. Croix. Maximum amount of tax exempt bonds to be issued: $10,000,000. (b) Borrower: Hovensa L.L.C.- to provide a portion of the long-term financing of the solid waste disposal components of the Coker Project, the total projected cost of the project is $565,000,000. Maximum amount of tax exempt bonds to be issued: $63,045,000. …
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