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48 U.S.C. § 1405 — Geographical application of subchapter; land and waters included in term “Virgin Islands”

Federal law — U.S. Code and appendices · legal_authorities

48 U.S.C. § 1405 — Geographical application of subchapter; land and waters included in term “Virgin Islands”

The provisions of this subchapter, and the name “the Virgin Islands” as used in this subchapter, shall apply to and include the territorial domain, lands and waters acquired by the United States through cession of the Danish West Indian Islands by the convention between the United States of America and His Majesty the King of Denmark entered into August 4, 1916, and ratified by the Senate on September 7, 1916 (39 Stat. L. 1706).

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Stable record: federal_law:legal_authorities:record_usc_8b4ee68637c99925ad4056e5
Source file: Laws/federal/codes/united-states-code/title-48/section-1405-geographical-application-of-subchapter-land-and-waters-included-in-term--95389fa574.md
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Source location: Title 48, Chapter 7, § 1405; chapter-007-virgin-islands.md

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Federal law — U.S. Code and appendices · legal_authorities

48 U.S.C. § 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title48-section1405&num=0&edition=prelim) 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.

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Federal law — U.S. Code and appendices · legal_authorities

48 U.S.C. § 1405 — Geographical application of subchapter;

Page 89 TITLE 48—TERRITORIES AND INSULAR POSSESSIONS § 1405c 1 See References in Text note below. types of public works which shall include, but not be limited to, streets, bridges, wharves, and harbor facilities, sewers and sewage-disposal plants, municipal buildings, schools, libraries, gymnasia and athletic fields, fire houses, elec- tric distribution systems or other work per- taining to electric systems, and other public utilities, including those owned or operated by the Saint Thomas Power Authority, or to clear slums, accomplish urban redevelopment or pro- vide low-rent housing, negotiable general obli- gation bonds and other obligations may be issued by the government of the Virgin Islands or any municipality thereof: Provided, That no public indebtedness of any municipality thereof shall be incurred in excess of 10 per centum of the aggregate assessed valuation of the taxable real property in such municipality and that no public indebtedness of the government of the Virgin Islands shall be incurred in excess of 10 per centum of the aggregate assessed valuation of the taxable real property in the islands. Bonds issued pursuant to sections 1403 to 1403b of this title shall bear such date or dates, may be in such denominations, may mature in such amounts and at such time or times, not exceed- ing thirty years from the date thereof, may be payable at such place or places, may be sold at either public or private sale, may be redeemable (either with or without premium) or nonredeem- able, may carry such registration privileges as to either principal and interest, or principal only, and may be executed by such officers and in such manner, as shall be prescribed by the government of the Virgin Islands or of the mu- nicipality issuing the b

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