In pursuance of section 8(b)(ii) of the Revised Organic Act of the Virgin Islands, as amended, the issuance of general obligation bonds or other obligations by the Government of the Virgin Islands, not in excess of five million five hundred thousand dollars ($5,500,000) in aggregate principal amount of said bonds outstanding at any one time, is hereby authorized and approved, as the Governor may deem necessary and advisable, subject to the same qualifications upon said limitation as are set forth in section 106(a) of this title. To the extent consistent with section 8(b)(ii) of the Revised Organic Act of the Virgin Islands, as amended, or any other applicable Federal law, the provisions of subsections (c) through (h) of section 106 and of section 110 of this title shall apply equally to the bonds of the Government of the Virgin Islands and all powers thereby vested in the Authority, its Board, members, officers and other persons shall apply instead to the Governor of the Virgin Islands and his designee or designees, who shall be officers or employees of the Government of the Virgin Islands; provided, however, that the bonds of the Government of the Virgin Islands shall be issued by a written declaration or declarations of the Governor which shall provide for public or private sale of the bonds and for their redemption with or without premium, and shall contain such other provisions as may be deemed necessary or desirable for the protection of the bondholders and the security of the bonds.