(a) There is established a special fund in the Treasury of the Virgin Islands to be designated as the District Public Road Fund consisting of four separate accounts: St. Croix Public Road Account; St. Thomas Public Road Account; St. John Public Road Account; and the Water Island Public Road Account. Monies shall be covered into the Fund as provided in subsection (b) of this section.
(b) Two percent (2%) of all property taxes collected for each island and the monies collected under this subsection shall be deposited into the respective island's Public Road Account. The Commissioner of Finance shall make distribution of property tax collections into each island's Public Road Account within 30 days from the end of each quarter. In addition to the two percent (2%) of all property taxes collected for each island before October 1, of each year, two percent (2%) of all delinquent property taxes, including interest, paid after October 1 of each fiscal year, shall be deposited into the respective island's Public Road Account.
(c) The Commissioner of Finance shall make available, out of the funds in each island's Public Road Account, disbursements for expenditures under the direct control of the Engineering Division of the Department of Public Works exclusively for the repair of the respective island's local public roads, including drainage, maintenance, pavement and beautification.
(d) The Commissioner of Finance shall maintain and provide for the administration of each island's Public Road Account, and no funds therein shall be available for expenditure except as provided in this section.