§ 56. Exemption from taxes; title to property
The Authority shall not be required to pay any taxes or assessments on any property acquired by it for its purposes or on any income derived from any of its authorized activities. The Authority shall retain title to all real property within the park areas, except property owned by the Federal or Territorial Governments.
§ 52. Corporate powers and duties
The Authority— (1) may purchase, lease, receive as a gift, and hold such real and personal property as it deems necessary in carrying out its functions under this chapter; (2) may adopt, amend and repeal bylaws; (3) may sue and be sued in its Authority name; (4) may hire and discharge employees as necessary to […]
§ 53. Board of Directors
The powers of the Authority shall be exercised by a Board of seven directors. The Board shall be composed of the Governor with power to vote by proxy, and six other members, who shall be residents of Saint Thomas. The initial appointment of members under the Ordinance of the Municipal Council of St. Thomas and […]
§ 51. Policy; purpose of Magens Bay Authority; corporate instrumentality
(a) The Government of the Virgin Islands hereby declares that the welfare of the Virgin Islands and the improvement of the health and living standards of its people require that public use and development of park and beach areas be facilitated by the establishment of a public agency to plan and execute a continuing constructive […]