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To stabilize the economy of the United States Virgin Islands by providing bond proceeds and other financings to the Government of the United States Virgin Islands, its instrumentalities, and agencies by making prudent and wise decisions when issuing bonds and other financings, and to develop revolving loan funds, lending proceeds to private enterprises for economic development in the United States Virgin Islands.
To aid the Government of the United States Virgin Islands in the performance of its fiscal duties, raise capital for essential public projects, and create programs to serve the financing needs of the Government of the United States Virgin Islands
The Virgin Islands Public Finance Authority (PFA or the Authority) was created by Act No. 5365 as a public corporation and autonomous governmental instrumentality, operating on behalf of the Government of the United States Virgin Islands (the Government).
Its primary duties are:
to aid the Government of the United States Virgin Islands in the performance of its fiscal duties
to raise capital, public or private, for essential public projects
to create programs and enter into contracts which will support the financing needs of the Government, promote economic recovery, and contribute to the stability of the Territory’s economy.
The United States Virgin Islands Code provides that the debts, obligations, contracts, bonds, assets, receipts, expenditures, accounts, funds, facilities and property of the Authority shall be deemed to be those of the Authority and not to be those of the Government of the United States Virgin Islands or of any of its offices, bureaus, departments, agencies, commissions, branches, agents, or employees.