(a) There is established a special fund in the Treasury of the Virgin Islands to be designated as the District Street Lighting Fund consisting of four separate accounts: the St. Croix Street Lighting Account; St. Thomas Street Lighting Account; St. John Street Lighting Account; and the Water Island Street Lighting Account. Monies shall be covered into the Fund as provided in subsection (b) of this section.
(b) Each island's Street Lighting Account shall consist of four percent of all property taxes collected for the respective island. Distribution of property tax collections into each island's Street Lighting Account shall be made within 30 days from the end of each quarter. In addition to four percent of all property taxes collected for each island before October 1 of each year, four percent of all delinquent property taxes, including interest, collected after October 1 of each fiscal year, shall be deposited into the respective island's Street Lighting Account.
(c) The Commissioner of Finance shall make available, out of the funds in each island's Street Lighting Account, disbursements for expenditures under the direct control of the Virgin Islands Water and Power Authority exclusively for street light maintenance and installation along the local public road system.
(d) The Commissioner of Finance shall maintain and provide for the administration of each island's Street Lighting Account and no funds therein shall be available for expenditures except as provided in this section.