There is hereby created within the Treasury of the Virgin Islands, a special fund to be known as the “Milk Processors Relief Fund” (hereinafter referred to as the Fund). Said Fund shall be utilized in paying a subsidy to St. Croix Milk Processors on the basis of an increased production and processing cost for Grade A fresh milk of $ .05 per quart produced. The Fund shall be administered by the Commissioner of Finance, who shall disburse subsidy payments on a monthly basis upon submission to him of milk production records of the processors establishing to his satisfaction the amount of milk, in quarts, produced by such processor for that month. The Commissioner of Finance shall promulgate rules and regulations as shall be necessary for the proper administration, supervision and enforcement of the subsidy created herein.