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25 chapters · 529 sections in this title.
29 V.I.C. § 1310 Hotel Development Notes security
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(a) A series of Hotel Development Notes may be secured by a trust agreement or trust indenture between the Notes Issuer and a trustee having trust powers, or by a secured loan agreement or other instrument giving power to the trustee by means of which the Notes Issuer may do the …
29 V.I.C. § 1311 Default
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(a) If there is a default in the payment of the principal of or interest on any Hotel Development Notes of a series after the principal or interest becomes due and payable, whether at maturity or upon call for redemption, or if the Notes Issuer or the Government fails or refuses …
29 V.I.C. § 1312 Economic recovery fee
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(a) Purpose. The purpose of the Economic Recovery Fee is to encourage and promote the recovery and improvement, and expansion of the Territory’s hotel sector. (b) Fee. Developers of hotels located or to be located in the U.S. Virgin Islands may apply for authorization to impose a…
29 V.I.C. § 1313 Use of revenues
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(a) The revenues generated from the Designated Hotel Room Occupancy Tax, Designated Casino Tax on Gross Revenue, and the Economic Recovery Fee, approved in accordance with section 1312(c)(1) of this chapter, are to be allocated to and deposited into the Project’s Fund as follows:…
