Notwithstanding any other provisions of law to the contrary, the Government of the Virgin Islands and all agencies, instrumentalities, commissions, authorities, and political subdivisions of the Virgin Islands are hereby authorized to arrange with the Authority for the investment by the Authority of all or any part of the funds as to which it has authority to invest, in any investment in which the Authority is authorized to invest funds provided that the Authority shall not be authorized to invest funds of the Government Employees Retirement System; to permit any such funds to be combined with other funds of the Authority or other funds invested by the Authority pursuant to this act in connection with the investment thereof by the Authority; to issue bonds and other obligations guaranteed by the Authority; to issue bonds and other obligations and to apply the proceeds to acquire bonds issued by the Authority or to make loans to the Authority; to borrow money from and to issue and sell bonds and other obligations to the Authority; to enter into lease or purchase agreements with the Authority for any real or personal property; to guarantee the payment of principal, premium and interest on bonds, or guaranties, standby agreements or other credit enhancements, of the Authority or reimbursement obligations to the Authority as guarantor and to enter into agreements with the Authority providing therefor, which agreements may contain such terms or covenants as the Board shall deem necessary or appropriate; to enter into agreements with the United States, or any agency, instrumentality, commission, authority or other political subdivision thereof, providing for the guarantee of the payment of principal, premium and interest on obligations issued by the Government of the Virgin Islands which guaranty agreements may contain such terms or covenants as the Board shall deem necessary or appropriate; to convey property to or acquire or lease property from the Authority on such terms and conditions as may be deemed by such entity to be appropriate; and to enter into contracts and agreements with the Authority regarding any and all of the foregoing.