48 U.S.C. § 1408a : US Code - Section 1408A: Issuance of notes, bonds, and obligations

Search 48 U.S.C. § 1408a : US Code - Section 1408A: Issuance of notes, bonds, and obligations

The legislative assembly may authorize such authority, any
provision of the Virgin Islands Organic Act [48 U.S.C. 1405 et
seq.] or any other Act of Congress to the contrary notwithstanding,
to borrow money and to issue notes, bonds, and other obligations of
such character and maturity, with such security, and in such manner
as the legislative assembly may provide. Such notes, bonds, and
other obligations shall not be a debt of the United States, or of
the Virgin Islands or of any municipality or subdivision thereof,
other than such authority, nor constitute "bonds and other
obligations" within the meaning of sections 1403 to 1403b of this
title, or a debt, indebtedness, or the borrowing of money within
the meaning of any limitation or restriction on the issuance of
notes, bonds, or other obligations contained in any laws of the
United States applicable to the Virgin Islands or to any municipal
corporation or other political subdivision or agency thereof.