(a) There is established in the Treasury of the Virgin Islands a special fund to be designated the Correctional Facilities Repair and Renovation Fund. The Commissioner of Finance shall provide for the administration of the Fund as a separate and distinct fund within the Treasury of the Virgin Islands and no amounts therein shall be available for expenditure or disbursement except as provided in this section.
(b) The Fund shall consist of all sums appropriated thereto from time to time by the Legislature, which shall remain available until expended. Contributions and reimbursements from the Federal government, all interest earned upon any money in the Fund, and all grants, contributions, gifts and bequests, as may be made thereto and which the Commissioner of Finance is authorized to accept and deposit therein.
(c) Monies shall be disbursed from the Fund by the Commissioner of Finance upon warrant of the Attorney General for the maintenance, repair, renovation and construction of correctional facilities within the Territory and for equipment and supplies therein.
(d) The Commissioner of Finance shall maintain a record of all monies deposited into and disbursed from the Fund and shall submit quarterly reports to the Governor and the Legislature on the status of said Fund.