# 48 U.S.C. § 1408a: Issuance of notes, bonds, and obligations

> Federal · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/usc_t48_s1408a

## Section

- **Citation:** 48 U.S.C. § 1408a
- **Heading:** Issuance of notes, bonds, and obligations
- **Jurisdiction:** Federal
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** April 17, 2026
- **Source:** Publisher's official text
- **Location:** Title 48—TERRITORIES AND INSULAR POSSESSIONS > CHAPTER 7—VIRGIN ISLANDS > SUBCHAPTER IV—PUBLIC HOUSING

## Text

The legislative assembly may authorize such authority, any provision of the Virgin Islands Organic Act [ 48 U.S.C. 1405 et seq.] or any other Act of Congress to the contrary notwithstanding, to borrow money and to issue notes, bonds, and other obligations of such character and maturity, with such security, and in such manner as the legislative assembly may provide. Such notes, bonds, and other obligations shall not be a debt of the United States, or of the Virgin Islands or of any municipality or subdivision thereof, other than such authority, nor constitute “bonds and other obligations” within the meaning of sections 1403 to 1403b of this title, or a debt, indebtedness, or the borrowing of money within the meaning of any limitation or restriction on the issuance of notes, bonds, or other obligations contained in any laws of the United States applicable to the Virgin Islands or to any municipal corporation or other political subdivision or agency thereof.

( July 18, 1950, ch. 466 , title III, § 302, 64 Stat. 346 .)

## Nearby sections

- [48 U.S.C. § 1391 Repealed. Pub. L. 89–554, § 8(a) , Sept. 6, 1966 , 80 Stat. 643](https://www.frixlaw.com/law-library/statutes/usc_t48_s1391.md)
- [48 U.S.C. § 1392 Local laws continued; courts](https://www.frixlaw.com/law-library/statutes/usc_t48_s1392.md)
- [48 U.S.C. § 1392a Repealed. Pub. L. 89–554, § 8(a) , Sept. 6, 1966 , 80 Stat. 650 , 654](https://www.frixlaw.com/law-library/statutes/usc_t48_s1392a.md)
- [48 U.S.C. § 1392b Repealed. Pub. L. 97–357, title III, § 308(c) , Oct. 19, 1982 , 96 Stat. 1710](https://www.frixlaw.com/law-library/statutes/usc_t48_s1392b.md)
- [48 U.S.C. § 1393 Repealed. Pub. L. 97–357, title III, § 308(a) , Oct. 19, 1982 , 96 Stat. 1710](https://www.frixlaw.com/law-library/statutes/usc_t48_s1393.md)
- [48 U.S.C. § 1394 Customs duties and internal-revenue taxes](https://www.frixlaw.com/law-library/statutes/usc_t48_s1394.md)
- [48 U.S.C. § 1395 Tax laws continued; tax on sugar](https://www.frixlaw.com/law-library/statutes/usc_t48_s1395.md)
- [48 U.S.C. § 1396 Duties and taxes covered into Virgin Islands treasury](https://www.frixlaw.com/law-library/statutes/usc_t48_s1396.md)
- [48 U.S.C. § 1397 Income tax laws of United States in force; payment of proceeds; levy of surtax on all taxpayers](https://www.frixlaw.com/law-library/statutes/usc_t48_s1397.md)
- [48 U.S.C. § 1398 Omitted](https://www.frixlaw.com/law-library/statutes/usc_t48_s1398.md)
- [48 U.S.C. § 1399 Repealed. Pub. L. 97–357, title III, § 308(b) , Oct. 19, 1982 , 96 Stat. 1710](https://www.frixlaw.com/law-library/statutes/usc_t48_s1399.md)
- [48 U.S.C. § 1400 Repealed. Pub. L. 98–454, title VII, § 709 , Oct. 5, 1984 , 98 Stat. 1741](https://www.frixlaw.com/law-library/statutes/usc_t48_s1400.md)
- [48 U.S.C. § 1401 to 1401e Repealed. Pub. L. 110–40, § 1(a) , June 29, 2007 , 121 Stat. 232](https://www.frixlaw.com/law-library/statutes/usc_t48_s1401...1401e.md)
- [48 U.S.C. § 1401f Omitted](https://www.frixlaw.com/law-library/statutes/usc_t48_s1401f.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/usc_t48_s1408a. Check the current official text before relying on it. Not legal advice.