V.I. Code tit. 29, § 475 (2019)
2019 US Virgin Islands Code|Title 29 - Public Planning and Development|Chapter 7 - Public Works Acceleration Authority|Subchapter II - Virgin Islands Public Works Acceleration Authority|§ 475. Powers and duties of the Authority

 The Authority shall have all the powers necessary and convenient to carry out and perform the purposes and provisions of this chapter (except the power to levy and collect taxes and/or special assessments), including the following powers in addition to other powers granted in this chapter, and may— (1) have perpetual succession; (2) sue and be sued; (3) have a seal and modify it; (4) enter into and execute contracts and instruments of every kind and nature, necessary or convenient to the exercise of its powers and functions; (5) make, and from time to time modify, and repeal bylaws, rules and regulations, not inconsistent with this chapter, providing for the internal organization and management of the Authority, for the administration of its affairs and operations, and for carrying into effect the powers and purposes of the Authority; (6) borrow money from public and private sources, and give such security therefor as may be required; (7) apply for and accept advances, loans, grants, contributions, bequests, gifts, donations, appropriations of funds and any other form of financial assistance from the Federal Government, the Government of the Virgin Islands, or other public body or agency, or from any sources, public or private, for the purposes of this chapter, and enter into and carry out contracts in connection therewith; (8) deposit funds in banking institutions which are members of the Federal Deposit Insurance Corporation; (9) invest funds in property or securities approved for investment by the Federal Government or the Government of the Virgin Islands; (10) acquire any real or personal property, or any interest or estate therein, by lease, option, purchase, gift, grant, donation, appropriation, bequest, devise or by the exercise of eminent domain, or otherwise; (11) own, hold, improve, clear, or prepare for redevelopment any such property; (12) 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: provided, however, that no provision of law with respect to the acquisition, operation or disposition of property by other public agencies shall be applicable to the Authority unless the Legislature shall specifically so state. (13) to extend credit or make loans to any person for the planning, design, construction, acquisition or carrying out of any Project, which credit or loans shall be secured by loan agreements, mortgages, security agreements, contracts and all other instruments or fees or charges, upon such terms and conditions as the Authority shall determine reasonable in connection with such loans, including provision for the establishment and maintenance of reserves and insurance funds, and in the exercise of powers granted by this section in connection with a Project for such person, to require the inclusion in any contract, loan agreement, security agreement or other instrument, such provisions for guaranty, insurance, construction, use, operation, maintenance and financing of a Project as the Authority may deem necessary or desirable; (14) to acquire, accept or retain equitable interests, security interests or other interest in any property, real or personal, by mortgage, assignment, security agreement, pledge, conveyance, contract, lien, loan agreement or other consensual transfer in order to secure the repayment of any monies loaned or credit extended by the Authority.