§ 127. Provisions permitted in contracts with Federal Government
In any contract with the Federal Government for financial assistance to the Authority, the Authority may obligate itself (which obligation shall be specifically enforceable and shall not constitute a mortgage, notwithstanding any other laws) to convey to the Federal Government possession of or title to the project to which such contract relates, upon the occurrence […]
§ 151. Cooperation by Government
(a) For the purpose of aiding and cooperating in the planning, undertaking, carrying out, developing, constructing and operating of project [sic], and of enabling the Authority to qualify for participation in Federal programs in its authorized fields of activity, the Government of the United States Virgin Islands, any political subdivision thereof, or any public agency […]
§ 152. Power to render assistance by taxes, appropriations, borrowings, bonds, etc.
Subject to the provisions of section 8(b) of the Revised Organic Act of the Virgin Islands, approved July 22, 1954, the Government of the United States Virgin Islands may levy taxes, appropriate funds, incur indebtedness and issue bonds for the purposes of procuring funds to be loaned, appropriated, contributed, or granted, to the Virgin Islands […]
§ 153. Workable program
The Government of the United States Virgin Islands, for the purposes of this chapter, may formulate for the Virgin Islands as a whole, and for each community and locality in the Virgin Islands, workable programs for utilizing appropriate public and private resources (including those specified in chapter 61 of Title 19) to eliminate, and prevent […]
§ 121. Issuance of bonds; terms and conditions generally
(a) The Authority shall have the power to issue bonds from time to time in its discretion, for any of its corporate purposes. The Authority shall also have power to issue refunding bonds for the purpose of paying or retiring bonds previously issued by it. The Authority may issue such types of bonds as it […]
§ 122. Maturity of bonds; interest; sale; validity; actions involving bonds
(a) Bonds of the Authority shall be authorized by its resolutions, may be issued in one or more series and shall be offered, awarded and executed in such manner, bear such date or dates, mature at such time or times, bear interest at such rate or rates, be in such denomination or denominations, be in […]
§ 123. Powers of Authority with respect to bonds or obligations
In connection with the issuance of bonds or the incurring of obligations, and in order to secure the payment of such bonds or obligations, the Authority, in addition to its other powers, may— (1) pledge all or any part of its gross or net rents, fees or revenues, to which its right then exists or […]
§ 124. Rights of obligee
An obligee of the Authority, in addition to all other rights which may be conferred on such obligee, subject only to any contractual restrictions binding upon him, may, by a civil action— (1) compel the Authority and the commissioners, officers, agents or employees thereof to perform each and every term, provisions [sic] and covenant contained […]
§ 125. Conferment of additional rights upon obligee; receiver
The Authority may by its resolution, or by declaration of trust, trust indenture, mortgage, lease, or other contract confer upon any obligee holding or representing a specified amount in bonds, the right (in addition to all rights that may otherwise be conferred), upon the happening of an event of default as defined in such resolution […]
§ 91. Declaration of urban renewal policy
(a) It is declared to be the policy of the Virgin Islands to undertake and pursue an active urban renewal program for the elimination and for the prevention of the development or spread of slums and blight in the several communities of the Virgin Islands, within the contemplation of the Housing Act of 1949, as […]