Self-effectuating chapter

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The powers conferred by this chapter are in addition an supplemental to, and the limitations imposed by this chapter shall not affect, the powers conferred by any other general statute, special act, charter or ordinance of the Territory. Mortgage loan or loans may be acquired, purchased and financed, and bonds or notes may be issued under this chapter for such purposes, notwithstanding that any other general statute, special act, charter, resolution, ordinance or declaration may provide for the acquisition, purchase and financing of similar mortgage loan or loans or the issuance of bonds or notes for similar purposes, and without regard to the requirements, restrictions, limitations or other provisions contained in any other such law. It shall not be necessary to secure from any department, agency or officer of the government not named in this chapter, any approval or consent or any certificate or finding, for the issuance of bonds or notes hereunder or for any other reason, except such as are prescribed in this chapter or are required by the Revised Organic Act or the laws of the United States made applicable to the Virgin Islands. It is the intention that this chapter be self-effectuating and that the powers conferred upon the Authority by this chapter and the procedures set forth herein, including those as to the description of monies and property, shall not be affected, limited or restricted by any law enacted by the Legislature of the Virgin Islands.


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