V.I. Code tit. 29, § 813 (2019)
2019 US Virgin Islands Code|Title 29 - Public Planning and Development|Chapter 13 - Economic Park Development|Subchapter II - Virgin Islands Economic Development Park Corporation|§ 813. Board of Directors; powers and duties

 The Board of Directors shall have the following powers and duties to effectuate the purposes of this chapter, including but without limiting the generality of the foregoing: (a) To do any and all things permitted under the laws of the Virgin Islands to effectuate the purposes of this chapter; (b) To sue and be sued; (c) To adopt, alter and use a corporate seal which shall be judicially noticed; (d) To adopt, amend and repeal by-laws not inconsistent with this chapter, providing for the internal organization and management of the Corporation, for the administration of its affairs and operations and for carrying into effect the powers and purposes of the Corporation; (e) To adopt general policies and procedures; (f) To make contracts and agreements with any public or private corporation, partnership or individuals, to execute all instruments necessary or convenient in the exercise of any of its powers and to establish and enforce rules for competitive bidding and/or negotiation where deemed appropriate by the Board, the Corporation not being bound by any competitive bidding requirement established by the Government of the United States Virgin Islands; (g) To acquire property, real, personal, or mixed, tangible or intangible, or any interest therein deemed by it to be necessary or desirable for carrying out the purposes of acquisition, construction, reconstruction, improvement, maintenance, preservation or furnishing of one or more industrial park projects of the Corporation or otherwise to dispose of said property by any lawful means, and to own, hold, develop, improve, redevelop, lease, sell, convey, mortgage, enlarge, pledge, extend, repair, maintain, use and operate said property; (h) To sell, lease, exchange, transfer, assign, mortgage, pledge, or otherwise dispose of, or encumber, any real or personal property, or any interest or estate in such or any industrial park project; (i) To borrow money, to make and issue bonds of the Corporation for any of its corporate purposes and to give security therefor as provided for in this chapter, including the execution of any trust indenture or mortgage to secure such bonds; (j) To make and issue bonds or bond anticipation notes for the purpose of funding, refunding, purchasing, paying, or discharging any of the outstanding bonds or obligations issued or assumed by the Corporation; (k) To accept grants or loans from, and enter into contracts, leases, agreements, or other transactions with any Federal agency, the Government of the Virgin Islands, or political subdivisions thereof, and to expend the proceeds of any such grants or loans for any of its corporate purposes; (l) To invest funds in United States obligations or other securities approved for investment for the Government of the Virgin Islands subject to agreements with bondholders; (m) To appoint officers and agents, to prescribe their qualifications and to fix their compensation and to pay the same out of funds of the Corporation and to retain and employ private consultants and attorneys for professional and technical assistance and advice; (n) To grant an option to renew any lease with respect to any industrial park project or projects and to grant options to buy any project or to sell any project pursuant to a conditional sale agreement at such price or prices as the Corporation may deem desirable; (o) To make loans to any public or private corporation, partnership or individual with respect to any project in order to effectuate the purposes of this chapter; (p) To accept grants of real and personal property; (q) To accept and carry out Federal grant programs with approval of the Legislature and the Governor; (r) To publish an annual statement of condition in the same detail as required by national banks; (s) To enter into collective bargaining agreements with employees of the Corporation; (t) To hold regularly scheduled meetings no less than every two months; (u) To acquire and use trademarks and trade names in accordance with applicable Federal and territorial law; (v) To do all acts or things necessary or desirable to carry out the powers granted to it by this chapter or by any other act of the Legislature of the United States Virgin Islands.