There is hereby authorized and established the Virgin Islands Heroic Award. This award shall be presented by the Governor, upon the recommendation of the Police Commissioner, to any eligible member of the Police Force or the Fire Service. A member of the Police Force or the Fire Service shall be eligible for the award, if, in the opinion and judgment of the Police Commissioner, he or she has demonstrated service beyond the call of duty involving self-sacrifice, bravery, courage and initiative. The award shall consist of cash in an amount not exceeding $500, an appropriate medal and a Certificate of Heroism. The amount of the award shall be determined by the Police Commissioner. In the case of the death of a person entitled to receive the Heroic Award, such award shall be delivered to his or her heirs.