(a) There is established in the Treasury of the Virgin Islands a special fund designated the “Senior Citizens’ Center Revolving Fund”. The Commissioner of Finance shall maintain and provide for the administration of the special fund as a separate and distinct fund in the Treasury. No monies in the fund are available for expenditure, except as provided in this section.
(b) The Senior Citizens’ Center Revolving Fund is constituted of:
(1) Any civil penalty imposed under 12A V.I.C. § 328(d), of the Consumer Fraud and Deceptive Business Practices Act; and
(2) All sums appropriated to the Fund from time to time by Legislature.
(3) Annual deposits of the first $500,000 received from the Lonesome Dove Petroleum Co., Special Revolving Fund.
(c) The Commissioner of Finance shall disburse all moneys deposited into the Senior Citizens’ Center Revolving Fund exclusively for the expenditure by the Department of Human Services for grants to senior centers throughout the territory.
(d) The Commissioner of Finance shall submit quarterly reports to the Governor and the Legislature, listing all receipts and expenditures pertaining to the Senior Citizens’ Center Revolving Fund.