(a) Nothing in this chapter shall be construed to authorize the VIHDFC or the Government of the Virgin Islands, nor any of their officers, employees, or agents, to guarantee, insure, or otherwise become liable for any debt issued for a Qualified Nonprofit.
(b) The VIHDFC shall not be required to own, operate, or manage the project. Ownership may remain with the Qualified Nonprofit or may be transferred pursuant to IRS-compliant arrangements or the loan agreement.
(c) Administrative fees collected because of the issuance of tax-exempt bonds may be utilized by the Virgin Islands Public Finance Authority for its administration and operations. Any other use or financial transaction involving administrative fees must be submitted to and approved by the Legislature of the Virgin Islands prior to expenditure.