EFTA00602526.pdf

MuniPOINTS ' Report as of 06/202017 3:46:27 PM ET Issuer State: Virgin Islands Orig. Par Amount: $94,050,000 Issuer: VIRGIN ISLANDS PUB FIN AUTH REV Bond Type: Various Government Purposes Issue Description: MATCHING FD LN-SUB LIEN-B Security Type: Enterprise Revenue Dated Date: 07/15/10 Min. Denom. / $5,000 x $5,000 Increment: Obligor Isl - Latest Annual Financial Date: VIRGIN ISLANDS PUBLIC FIN AUTH (VI) - (09/30/16) SOURCE: OFFICIAL STATEMENT Issuer Summary Virgin islands Public Finance Authority 'the 'Authority') was created in 1988 by Virgin Islands Act 5365 of the Legislature, as amended, as a public corporation and autonomous governmental instrumentality for the purposes of aiding the Government in the performance of its fiscal duties and in effectively carrying out its governmental responsib. :y of raising capital for essential public projects. The powers of the Authority are exercised by a board of directors consisting of seven members. The Governor, the Commissioner of Finance and the Director of the Office of Management and Budget of the V:rg:n islands are members and serve ex-officio. The remaining members are appointed by the Governor with the advice and consent of the Legislature and represent the private sector. Of these remaining members, two must be residents of the District of St. Thomas/St. John and two must be residents of the D.strict of St. Croix. These individuals must be experienced in the area of municipal finance. Key Facts The United States Virgin islands (the "Government") - also known as the U.S. Virgin Islands or more commonly as the Virgin Islands - is located some 1,600 miles southeast of New York City, about 1,075 miles from Miami, and 60 miles east of Puerto Rico. Approximately 70 small islands, islets and cays make up the Virgin :slands. The principal islands are St. Croix, St. Thomas, St. John and Water island. In 2009, the population of the Virgin :slands was estimated at 116,818, an increase of 0.9% from 2008, with 55,048 people on St. Thomas, 57,256 people on St. Croix and 4,514 people on St. John. The largest private sector employers in the Virgin Islands are HOVENSA L.L.C, K-Mart Corporation, Ritz-Carlton Hotel VI Inc., Innovative Telephone Corporation, and Plaza Extra Supermarket, St. Croix. Use of Proceeds The proceeds of the Series 2010 Bonds are being loaned by the Authority to the Government pursuant to the Loan Agreement, dated as of July 1, 2010, by and among the Authority, the Government and the Trustee (the "Loan Agreement"). The Authority will use the proceeds of the Series 2010B Bonds to refinance a portion of the outstanding principal due on the Working Capital Credit Facility, 'ill fund the Series 2010B Subordinate Lien Debt Service Reserve Subaccount in an amount necessary to meet the Series 2010B Debt Service Reserve Requirement and (iii) pay the costs of issuing the Series 2010B Bonds. Bond Security The Series 2010B Bonds will be secured by a special limited obligation Series 2010B Matching Fund Loan Note, issued Page 1 of 13 EFTA00602526 Relevancy :ndex Headline [Sowcel 12/13/14 COL T G Public Finance Authority gives DPNR more money fox new boat (The Virgin Islands Daily News, St. Thomas' view article 12/12/14 Col_ T G Next Generation Network giving 290 laptops away to digital literacy students IThe Virgin Islands Daily News, St. Thomas' view article 12/08/14 COL T G Officials hope to reopen Fort Christian by June IThe Virgin Islands Daily News, St. Thomas' view article 11/24/14 COL T G DeJongh, GEC sign $20 million Paul E. Joseph Stadium contract IThe Virgin Islands Daily News, St. Thomas' view article 11/21/14 COL T G PFA approves additional $300K in debt coverage for med school 'The Virgin Islands Daily News, St. Thomas! view article 11/21/14 COL T G V.I. Tourism partners with Delta Airlines to provide new weekly direct flight from Atlanta to St. Croix (The Virgin Islands Daily News, St. Thomas) view article 10/16/14 COL T G PFA clears funding for St. Croix stadium, V.I. Next Generation Network (The Virgin Islands Daily News, St. Thomas) view art:c:e 09/16/14 CeL T G Government considers withholding funds from hospitals' allotments to pay their WAPA bills IThe Virgin Islands Daily News, St. Thomas' view art:c:e 08/29/14 COL T G V.I. government sells nearly $50M in bonds to buoy hospitals, cut deficit (The Virgin Islands Daily News, St. Thomas) view art:c:e 08/14/14 COL T G Public Finance Authority OKs $5011 bond borrowing fox V.1.'s hospitals (The Virgin Islands Daily News, St. Thomas) view article 08/02/14 C C)L TG Public Finance Authority meets (The Virgin Islands Daily News, St. Thomas) view art:c:e 06/12/14 COL T G V.I. Next Generation Network on track to finish broadband system in 2 weeks 'The Virgin Islands Daily News, St. Thomas' view article 05/16/14 C C)L TG V.1.'s broadband network nears completion; public computer centers open (The Virgin Islands Daily News, St. Thomas) view art:c:e 04/12/14 COL T G V.I. Government accepts GEC's proposal for Paul E. Joseph Stadium reconstruction IThe Virgin Islands Daily News, St. Thomas' view article 04/12/14 COL T G Public Finance Authority approves contract to finish Turnbull Library IThe Virgin Islands Daily News, St. Thomas) view article 04/02/14 COL T G Senate tables bill regarding V.I.'s stake in Texas oil company IThe V:rgin Islands Daily News, St. Thomas) view art:c:e Copyright O1992.2017 DPC DATA Inc. All rights reserved. Page 13 ot 13 EFTA00602527