COMMITTEE OF THE WHOLE – LEGISLATIVE SESSION

The 34th Legislature will convene in Committee of the Whole and Legislative Session on Monday, January 31, 2022, at 10:00 a.m. in the Earle B. Ottley Legislative Hall on St. Thomas. The official agenda to follow.

LEGISLATIVE SESSION AGENDA

 Call to Order:    Honorable Donna A. Frett-Gregory, Senate President

 Invocation:        Pastor Reginald Perry, Victorious Believers Ministries

 Anthem:              National Anthem and Virgin Islands March

Roll Call:             Honorable Genevieve Whitaker, Legislative Secretary 

Messages and/or Correspondence 

Reports:               Chairpersons of Standing Committees 

Special Orders and Overrides 

CONSIDERATION OF FLOOR AGENDA: 

The 34^th Legislature of the Virgin Islands will dissolve into Committee of the Whole to receive testimony on:

Bill No. 34-0188     An Act amending title 29 Virgin Islands Code, by adding chapter 24 to authorize the sale of the Matching Fund Receipts and create a new entity named the Matching Fund Special Purpose Securitization Corporation to: (1) acquire during the Transfer Period all of the Virgin Islands Government’s right, title, and interest in the Matching Fund Receipts to be paid to or for the account of the Government by the United States Treasury and the Related Rights, (2) issue Matching Fund Securitization Bonds and the Residual Certificate in order to pay the purchase price therefor and as otherwise authorized under the act, and (3) direct the Secretary and the United States Department of Interior to pay the Matching Fund Receipts directly into the Deposit Account; to approve the issuance by the Virgin Islands Public Finance Authority or other entity of the GERS Funding Note to the Government for deposit as an in-kind contribution to the GERS; to ratify the amendments to the rum company agreements; repealing and replacing Act Nos 8329 and 8330; and for other related purposes

Invited Testifiers:

Nathan Simmonds,    Director of Finance and Administration, Virgin Islands Public Finance Authority

David Paul, Financial Advisor to the Government of the Virgin Islands and the Public Finance Authority

Nellon Bowry, Chairman, Government Employees’ Retirement System

Austin Nibbs, Administrator, Government Employees’ Retirement System Board

Bosede Bruce, Commissioner, Department of Finance

Jenifer O’Neal, Director,Office of Management and Budget

Kye Walker, Counsel to the V.I. Public Finance Authority Winston & Strawn LLP

Geoffrey Eaton, Special Counsel to the Government of the Virgin Islands

Karol Denniston, Squire Patton Boggs (US) LLP,  Special Counsel to the Virgin Islands Public,  Finance Authority and the Matching Fund, Special Purpose Securitization Corporation

Pedro Hernandez, Squire Patton Boggs (US) LLP, Special Counsel to the Virgin Islands Public Finance Authority and the Matching Fund, Special Purpose Securitization Corporation

Miles Plaskett , Duane Morris LLP,Bond Counsel to the Virgin Islands Public, Finance Authority and Special Counsel to the Matching Fund Special Purpose, Securitization Corporation

Adam Lorbert, Ramirez & Co., Inc., Lead Bond Underwrite

Helen Hart ,President, Government Employees United for Fairness

Debra Christopher, President, St. Croix Government Retirees, Inc.

BILL(S)

Bill No. 34-0188   An Act amending title 29 Virgin Islands Code, by adding chapter 24 to authorize the sale of the Matching Fund Receipts and create a new entity named the Matching Fund Special Purpose Securitization Corporation to: (1) acquire during the Transfer Period all of the Virgin Islands Government’s right, title, and interest in the Matching Fund Receipts to be paid to or for the account of the Government by the United States Treasury and the Related Rights, (2) issue Matching Fund Securitization Bonds and the Residual Certificate in order to pay the purchase price therefor and as otherwise authorized under the act, and (3) direct the Secretary and the United States Department of Interior to pay the Matching Fund Receipts directly into the Deposit Account; to approve the issuance by the Virgin Islands Public Finance Authority or other entity of the GERS Funding Note to the Government for deposit as an in-kind contribution to the GERS; to ratify the amendments to the rum company agreements; repealing and replacing Act Nos 8329 and 8330; and for other related purposes