
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 48USC1408a]

 
              TITLE 48--TERRITORIES AND INSULAR POSSESSIONS
 
                        CHAPTER 7--VIRGIN ISLANDS
 
                      SUBCHAPTER IV--PUBLIC HOUSING
 
Sec. 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.

(July 18, 1950, ch. 466, title III, Sec. 302, 64 Stat. 346.)

                       References in Text

    The Virgin Islands Organic Act, referred to in text, probably means 
the Organic Act of the Virgin Islands of the United States, act June 22, 
1936, ch. 699, 49 Stat. 1807, as amended, which is classified generally 
to subchapter II (Sec. 1405 et seq.) of this chapter. For complete 
classification of this Act to the Code, see section 1406m of this title 
and Tables.
