Gov. Albert Bryan Jr. sent a letter to Senate President Novelle Francis Jr. Thursday calling the 35th Legislature into special session on April 5 to consider proposed legislation to authorize the Government of the Virgin Islands to use public funds to establish a line of credit of $150 million that would be used to supplement federal contributions for recovery projects in the territory and to initiate other specific recovery projects, Government House announced Friday.
The line of credit also would be used to assist with negotiated settlement obligations on behalf of WAPA and provide funding for authorized governmental operations.
In his letter to Francis, Bryan said he will make the members of his Financial Team available to the Legislature during the special session for further clarification, and they will be prepared to give testimony and respond to any questions senators may have.
“We intend to provide a complete picture of the need for and benefits of this transaction for the Legislature to make a prompt decision in Special Session,” Governor Bryan wrote in his letter. “This legislation, if passed, will be of significant benefit to the Territory’s ability to advance the recovery development projects. I thank you and your fellow Senators for your consideration in the steps to implement this transaction and to enhance the lives of our fellow Virgin Islanders.”