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April 15, 2008 – Today Senator Carlton "Ital" Dowe thanked Governor John P. deJongh for signing several components of the Bill, which allows the Public Finance Authority's pooling and investing of executive agency funds into law. The PFA will now be able to manage the pooled investments of the University of the Virgin Islands, Economic Development Authority, Port Authority, Water and Power Authority and the West Indian Company.
The Bill also appropriated funds to the Department of Education: $2,000,000 for repair and renovation of the gymnasium at the Ivanna Eudora Kean High School; $625,000 to upgrade the Vocational Education building and $1,200,000 to upgrade the electrical infrastructure at the St. Croix Central High School; and $200,000 for improvements to the John H. Woodson Jr. High School to meet accreditation standards.
"I am encouraging the Department of Education to begin preparing the scope of work and procurement process for these projects so that work can begin as soon as the schools are closed for summer vacation later this year," said Senator Dowe.
"I have submitted clarifying language for drafting with Legal Counsel for the reprogramming of 2003 Gross Receipt Bonds Series from the PFA for the construction of a new library and cafeteria and have found an alternate funding source for the renovation and expansion of the cafeteria and purchase of kitchen equipment at the Ulla Muller Elementary School," Senator Dowe continued.
"It is clear that by signing this Bill into law Governor deJongh is in agreement with the Legislature about putting the needed funding in place for our Education Department," the Senator said.
"I want to thank my colleagues who supported this Bill," said Senator Dowe, "and I want to thank Governor de Jongh for signing the majority of the pooling bill into law."