§ 128. Maximum aggregate guarantees by the Authority
The Authority shall not guarantee any loan pursuant to section 126 of this chapter, which causes the aggregate principal amount of the loans guaranteed by the Authority under this chapter to exceed $1,000,000.
§ 129. Guaranty reserve account
The Authority shall establish a special account, to be known as the Guaranty Reserve Account, and shall pay into this account all monies appropriated and made available by the Virgin Islands Government for the purposes of the account, all payments of principal and interest received pursuant to subsection (d) of section 127 of this chapter […]
§ 125. Exemption from taxation of property and income
The property of the Authority and its income from operations shall be exempt from taxation.
§ 115. Mortgage subsidy
(a) In addition to any other authority conferred by law, the Housing Finance Authority is authorized and directed to establish by regulation a mortgage subsidy program which meets the criteria of this section. (b) The subsidy program shall: (1) Serve buyers seeking a mortgage loan in an amount determined by regulation. (2) Provide a subsidy […]
§ 122. Designation of Code Enforcement and Rehabilitation Area; eligibility
The Authority may designate any area of a town as a Code Enforcement and Rehabilitation Area, if it finds that: (a) the area is substandard or unsanitary; (b) a substantial proportion of the housing accommodations in the area is in a deteriorating or deteriorated condition, and substantially fails to conform to applicable housing codes, fire […]
§ 123. Duration
The Authority shall continue until terminated by law, except that it shall remain in existence so long as loans guaranteed by it pursuant to this chapter are outstanding. Upon the dissolution of the Authority, its rights, liabilities and assets shall pass to the Territory.
§ 124. General powers and duties
The Authority shall have all the rights and powers necessary or desirable for carrying out the purposes of this chapter. In addition to any specific powers enumerated herein, the Authority may: (a) sue and be sued; (b) have a seal and alter it at will; (c) make contracts and other instruments; (d) make by-laws, rules […]
§ 103a. Approval of property for development
The Authority shall obtain the approval of the Legislature for the use of any property in any manner; such approval shall be obtained by submitting, at a minimum of every three (3) years, an Affordable Housing Plan which addresses specific projects to be developed on real property of the Authority. The Affordable Housing Plan shall […]
§ 104. Issuance of bonds and notes
(a) Notwithstanding any other provision of law to the contrary, the Authority shall authorize from time to time the sale by the Director of the Office of Management and Budget of bonds and notes of the Government of the Virgin Islands in such principal amounts as may be set forth in a declaration of the […]
§ 105. Declaration by Authority
Prior to or contemporaneous with the issuance of bonds or notes pursuant to this chapter, the Authority shall have found and determined by declaration that the findings of the Legislature as set forth in subsections (a) through (d) of section 101 of this chapter continue to exist and that the issuance of bonds or notes […]