48 U.S.C. § 1408 : US Code - Section 1408: Legislative authority to create authorities; appointment of members; powers of authorities

Search 48 U.S.C. § 1408 : US Code - Section 1408: Legislative authority to create authorities; appointment of members; powers of authorities

The government of the Virgin Islands, through its legislative
assembly, may grant to a public corporate authority existing or to
be created through said assembly, exclusive authority to undertake
slum clearance, urban redevelopment, urban renewal, and low-rent
housing activities within the municipalities of the Virgin Islands.
The legislative assembly may provide for the appointment and terms
of office of the members of such authority and for the powers of
such authority, including authority to accept whatever benefits the
Federal Government may make available under the Housing Act of 1949
(Public Law 171, Eighty-First Congress), as amended [42 U.S.C. 1441
et seq.], or any other law, for projects contemplated by this Act,
as amended, and to do all things, to exercise any and all powers,
and to assume and fulfill any and all obligations, duties,
responsibilities, and requirements, including but not limited to
those relating to planning or zoning, necessary or desirable for
receiving such Federal assistance, except that such authority shall
not be given any power of taxation, nor any power to pledge the
faith and credit of the people of the Virgin Islands for any loan
whatever.