48 USC 1574 - Priority for payment of principal and interest of revenue bonds or other obligations

Editorial Notes

Codification

“Section 7652(span)(3) of title 26” substituted in text for “section 28(span) 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(span) 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.

Amendments

1997—Puspan. 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”.

Statutory Notes and Related Subsidiaries

Effective Date of 1997 Amendment

Puspan. L. 105–83, title I, § 124(span), 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].”