2019 US Virgin Islands Code
Title 29 - Public Planning and Development
Chapter 23 - Hotel Development Program
§ 1315. Limitation of liability

(a) Neither the Directors of the Notes Issuer nor any persons executing Hotel Development Notes issued pursuant to this chapter are liable personally on the Hotel Development Notes by reason of the issuance of the Hotel Development Notes.

(b) Notwithstanding any other provision of this chapter, Hotel Development Notes issued pursuant to this chapter are not general obligations of Notes Issuer or the Government and are not in any way a debt or liability of the Government within the meaning of any debt or other limit prescribed by law. Neither the full faith and credit nor the taxing power of the Government, other than the revenues authorized under this chapter may be pledged to secure the payment of any Hotel Development Notes issued pursuant to this chapter.