Act No. 8178 (33rd Legislature) — An Act authorizing the Government of the Virgin Islands to secure a revolving credit facility in an amount not to exceed $80,000,000 to pay
ACTNO. 8178 BILL NO. 33-0070 THIRTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2019 An Act authorizing the Government of the Virgin Islands to secure a revolving credit facility in an amount not to exceed $80,000,000 to pay disaster recovery related construction contractors pending the receipt and disbursement of FEMA and HUD funding, and to pay other outstanding disaster relief obligations o--0--- WHEREAS, the territory of the United States Virgin Islands was struck by Hurricanes Irma and Maria, two category five hurricanes, on September 6, 2017, and September 19, 2017, respectively; WHEREAS, the scope of damage sustained by the Territory puts the estimated sustained damages in excess of $10.8 billion, including damages of $6.9 billion to infrastructure, $2.3 billion to housing, and $1.5 billion to the economy; WHEREAS, the territory of the United States Virgin Islands has received primary funding commitments from the Federal Emergency Agency Management (FEMA) and the U.S. …
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