About USVI Investor Relations
The Virgin Islands Public Finance Authority (the "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 1) to aid the Government of the United States Virgin Islands in the performance of its fiscal duties; 2) to raise capital, public or private, for essential public projects; and 3) 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 or of any of its offices, bureaus, departments, agencies, commissions, branches, agents, or employees.
Consequently, the Authority may borrow money, enter into contracts, and accept grant proceeds for public purposes. The PFA may also 1) lend the proceeds of bonds and/or other financing instruments to the Government; 2) guarantee loans and financial obligations incurred by the Government; 3) invest its funds; 4) arrange for the investment of funds belonging to the Government; 5) purchase notes and other obligations or instruments secured by real property; 6) execute contracts and financing instruments; 7) appoint, employ, and contract for the services of officers, agents, employees, and professional service providers as the Authority may deem appropriate; and, 8) exercise all such incidental powers as may be necessary or convenient for the purposes of carrying out the business objectives and interests of the Authority.
For more information about the USVI’s investor website please contact Lonnie Soury at (917) 519-4521, or Lsoury @soury.com.
On behalf of the Virgin Islands Government, I would like welcome you to our new investor relations website. We appreciate your interest and investment in bonds issued by the U.S. Virgin Islands Public Financing Authority, as it allows us to make critical investments in public infrastructure throughout the Virgin Islands.
The website will provide up to date financial information, documents and reports that will provide insight into the credit fundamentals behind the US Virgin Islands economy.
Hurricanes Irma and Maria have certainly had a dramatic impact on the Territory and will result in significant challenges as we recover and rebuild. Nevertheless, we want assure the investor community that we will rebuild our infrastructure and address our financial issues. We will not let this stand in our way. We are committed to being as transparent as possible with the investor community and the public at large.
Please do not hesitate to contact our office with suggestions for how we can be doing better.
Thank you again for your interest in our bond program.
Kenneth E. Mapp