There is established in the Treasury of the Virgin Islands a special fund to be known as the “Equipment Purchase Fund” (hereinafter referred to as the Fund). Said Fund shall be utilized in purchasing equipment for the operation of the various executive departments and agencies of the Government of the Virgin Islands. The Fund shall be administered by the Commissioner of Finance. Equipment shall be purchased from the Fund upon recommendations by the Commissioner of Property and Procurement, with the prior approval of the Governor and Finance Committee of the Legislature. The Fund shall be comprised of sums appropriated thereto from time to time by the Legislature.