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To promote and sustain economic and social development in the U.S. Virgin Islands
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The U.S. Virgin Islands Public Finance Authority (PFA) was created in 1988 by the U.S. Virgin Islands Legislature. The PFA is a public corporation and autonomous government instrumentality for the purposes of aiding the Government in the performance of its fiscal duties and in effectively carrying out its governmental responsibility of raising capital for essential public projects. The PFA is also empowered to borrow money and issue bonds to encourage private enterprise investments that maximize employment opportunities and better the lives of all Virgin Islanders.
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Under its enabling
legislation, the Authority is vested with, but not limited
to, the following powers: (i) to have perpetual existence
as a corporation, (ii) to borrow money and issue bonds,
(iii) to lend the proceeds of its bonds or other money
to the Government or any agency, authority or instrumentality
thereof or private enterprise in the Virgin Islands subject
to the approval of the Legislature, (iv) to establish one
or more revolving loan funds with the proceeds of bonds
issued by the Authority or issued by the Government or
any agency, authority or instrumentality thereof, (v) to
encourage economic development through the issuance of
special obligations issued to finance a project for the
benefit of private parties which special obligations are
payable out of revenue generated by the involved project
and are payable to the Authority by said private party,
(vi) to invest its funds and to arrange for the investment
of the funds of the Government or any agency, authority
or instrumentality thereof, (vii) to enter into contracts
and agreements with the government of the United States,
the Government and any agency, authority or political subdivision
thereof, (viii) to make, modify and repeal by-laws, rules
and regulations, (ix) to acquire, sell, lease, mortgage,
pledge, dispose of or encumber property or interests therein
and (x) to sue and be sued.
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The U.S. Virgin Islands are located in the eastern Caribbean,
just 1,107 miles southeast of Miami. Surrounded by the clear
blue waters of the Caribbean, our average temperature ranges
from 77ºF in the winter to 83ºF in the summer.
Each of our three major islands possesses a unique character all its own. St.
Croix's Danish influence is perfect for visitors who prefer a laid-back experience.
The historic towns of Frederiksted and Christiansted offer quaint shops, charming
pastel buildings, refreshing cultural diversity. From horseback riding near eighteenth-century
sugar mills to playing golf on one of the island's three scenic golf courses,
you're sure to find something to suit your tastes.
Two-thirds of St. John is a national park; its comfortable pace is perfect for
enjoying the island's world-renowned beaches such as Trunk Bay, Cinnamon Bay,
and Salt Pond Bay. A nature lover's favorite, St. John offers hiking, camping,
specialty shopping, and breathtaking views. If you take just a few hours to visit
this island, you'll find it well worth the trip.
St. Thomas boasts one of the most beautiful harbors in the world. As the most
visited port in the Caribbean, downtown Charlotte Amalie offers elegant dining,
exciting nightlife, world-class, duty-free shopping, and even submarine rides.
While it's full of energy, especially in Charlotte Amalie, this island also possesses
numerous natural splendors, such as stunning views of the Caribbean from 1,500
feet above sea level.
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