2013 US Code
Title 48 - Territories and Insular Possessions
Chapter 12 - 1954 (§§ 1541 - 1645)
Subchapter III - LEGISLATIVE BRANCH (§§ 1571 - 1576)
Section 1574c - Priority for payment of principal and interest of revenue bonds or other obligations
Publication Title | United States Code, 2012 Edition, Supplement 1, Title 48 - TERRITORIES AND INSULAR POSSESSIONS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 48 - TERRITORIES AND INSULAR POSSESSIONS CHAPTER 12 - 1954 SUBCHAPTER III - LEGISLATIVE BRANCH Sec. 1574c - Priority for payment of principal and interest of revenue bonds or other obligations |
Contains | section 1574c |
Date | 2013 |
Laws in Effect as of Date | January 16, 2014 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 94-392, §3, Aug. 19, 1976, 90 Stat. 1195; Pub. L. 105-83, title I, §124(a), Nov. 14, 1997, 111 Stat. 1567. |
Statutes at Large References | 68 Stat. 508 90 Stat. 1195 111 Stat. 1567 |
Public Law References | Public Law 94-392, Public Law 105-83 |
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Each issue of bonds or other obligations issued under subsection (a) of section 1574a of this title shall have a parity lien with every other issue of bonds or other obligations issued for payment of principal and interest out of revenues received under section 7652(b)(3) of title 26, except that issues guaranteed under section 1574b of this title shall have priority, according to the date of issue, over issues not so guaranteed and the revenues received under section 7652(b)(3) of title 26 shall be pledged for the payment of such bonds or other obligations.
(Pub. L. 94–392, §3, Aug. 19, 1976, 90 Stat. 1195; Pub. L. 105–83, title I, §124(a), Nov. 14, 1997, 111 Stat. 1567.)
CODIFICATION"Section 7652(b)(3) of title 26" substituted in text for "section 28(b) of the Revised Organic Act of the Virgin Islands [68 Stat. 508]", which was classified to section 3350(c) of former Title 26, Internal Revenue Code, on authority of section 7852(b) of Title 26, Internal Revenue Code, which provided that any reference in any other law to a provision of the Internal Revenue Code of 1939 be deemed a reference to the corresponding provision of the Internal Revenue Code of 1986.
Section was not enacted as part of the Revised Organic Act of the Virgin Islands which comprises this chapter.
AMENDMENTS1997—Pub. L. 105–83 substituted "a parity lien with every other issue of bonds or other obligations issued for payment" for "priority for payment" and struck out "in the order of the date of issue" before ", except that".
EFFECTIVE DATE OF 1997 AMENDMENTPub. L. 105–83, title I, §124(b), Nov. 14, 1997, 111 Stat. 1567, provided that: "The amendments made by subsection (a) [amending this section] shall apply to obligations issued on or after the date of enactment of this section [Nov. 14, 1997]."
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