Title 29 — Public Planning and Development
25 chapters · 546 sections in this title.
29 V.I.C. § 1051 Short title
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This chapter may be cited as the “Caribbean Cultural Heritage Center Act of 2001”.
29 V.I.C. § 1052 Definitions
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(a) For the purposes of this chapter, the term:(a) “Bonds” means the taxable or tax-exempt bonds, notes or other obligations, authorized to be issued by the Corporation pursuant to this chapter.(b) “Carifest Center and Park” means the cultural center, parking facilities, park and…
29 V.I.C. § 1053 Establishment of the Caribbean Cultural Heritage Center and Discovery Park Corporation; powers and responsibilities
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(a) The Caribbean Cultural Heritage Center and Discovery Park Corporation is established as a body corporate and politic constituting a public corporation and autonomous governmental instrumentality of the Government of the Virgin Islands. The Corporation shall be a corporate bod…
29 V.I.C. § 1054 Board of Directors
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(a) The Corporation shall be governed by a Board of Directors consisting of five members appointed by the Governor. (b) The Board of Directors shall be appointed by the Governor within 30 calendar days after the effective date of this chapter or 180 days after the date of a vacan…
29 V.I.C. § 1055 Authority of the Corporation to issue bonds
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(a) The Corporation shall have the power to issue bonds, notes, and other obligations, including refunding bonds at or before maturity, to finance, or assist in the financing of the Carifest Cultural Heritage Center, which obligations shall not constitute any obligation of the Go…
29 V.I.C. § 1056 Bonds of the Corporation legal investments for public or private funds
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(a) The Bonds shall be securities in which all public officers and bodies of the Government and all agencies, instrumentalities, commissions, authorities, and political subdivisions thereof, all insurance companies and associations and other persons carrying on an insurance busin…
29 V.I.C. § 1057 Agreement of the Government of the Virgin Islands
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The Government pledges to the Corporation and the holders of the bonds that the Government will not in any way impair the rights and remedies of the holders of the bonds, until the bonds and the interest thereon and the interest on any unpaid installments of interest and all cost…
29 V.I.C. § 1058 Dissolution of the Corporation
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Subject to the provisions of title 13 chapter 1 of the Code, relating to dissolution and winding up the affairs of the corporation, by majority vote, the Board may dissolve the Corporation when the bonds, and all other obligations of the Corporation incurred with respect to the i…
29 V.I.C. § 1059 Corporate contribution
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(a) The Corporation shall pay to the Government of the Virgin Islands:(a) Two percent of its net income to be used to provide for cultural education for students and teachers and entrepreneurial programs for students;(b) Two percent of its net income to be used by the Department …
29 V.I.C. § 1060 Severability
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If a provision of this chapter or its application to a person or circumstances is held invalid, the invalidity shall not affect other provisions or applications of this chapter which can be given effect without the invalid provisions or application.