(a) There is established in the treasury of the Government of the Virgin Islands a special revolving fund to be designated the “Emergency Response and Management Fund.” The Commissioner of Finance shall provide for the administration of the fund as a separate and distinct fund in the Treasury of the Government of the Virgin Islands and funds shall be available for expenditure or disbursement therefrom as provided in this section.
(b) “The Fund” shall consist of all sums appropriated thereto by the Legislature, designated bond proceeds, and any donations thereto from private sources.
(c) Monies contained in the fund shall remain available to VITEMA until expended and shall be used for, but not limited to, the following purposes:
(1) immediate emergency management and response costs;
(2) costs of activation of the emergency operations centers;
(3) costs of prepositioning supplies or personnel in the advent of an apparent emergency situation; and
(4) costs of emergency replacement or repair of critical equipment.
For the uses enumerated above, monies shall be disbursed from the fund by the Commissioner of Finance, upon the authorization of the Director of VITEMA.(d) The Director of VITEMA shall submit annual reports of the expenditures from the fund to the Governor and the Legislature within 30 days after the close of each fiscal year.