AT. 88 PUBLIC LAW 96-205—MAR.12, 1980 Sec. 302. The Act of November 4, 1963 (77 Stat. 302), to provide for the rehabilitation of Guam, and for other purposes, is hereby amendedas follows: (Din the first sentence of section 3, delete the comma after tizth Ower ing ons. “United States” and delete the words “with interest as set forth below,” and (2) after paragraph(c) of section 3, delete the last paragraph before section 4 andinsert in lieu thereof: “All amounts heretofore withheld from sums collected pursuant to section 30 of the said Organic Act as interest on the amounts made available to the government of Guam pursuant to this Act shall be credited as reimbursement payments by Guam on the principal amount advanced by the United States under this Act.”. Src. 803. Section 11 of the Organic Act of Guam (64 Stat. 387; 48 U.S.C. 1423a), as amended, is hereby amended by deleting all after the words “December 31, 1980.”, and substituting the following language: “The Secretary, upon determining that the Guam Power Authority is unable to refinance on reasonable terms the obligations purchased by the Federal Financing Bank under the fifth sentence of this section by December 31, 1980, may, with the concurrence of the Secretary of the Treasury, guarantee for purchase by the Federal Financing Bank; and suchbank is authorized to purchase, obligations of the Guam Power Authority issued to refinance the principal amount of the obligations guaranteed under the fifth sentence of this section. The obligations that refinance such principal amount shall mature not later than December 31, 1990, and shall bear interest at a rate determined in accordance with section 6 of the Federal Financ- ing Bank Act (12 U.S.C, 2285). Should the Guam Power Authority fail to pay in full any installment of interest or principal when due on the bonds or other obligations guaranteed under this section, the Secretary of the Treasury, upon notice from the Secretary shall deduct and pay to the Federal Financing Bank or the Secretary, according to their respective interests, such unpaid amounts from sums collected and payable pursuant to section 30 of this Act (48 U.S.C. 1421h). Notwithstanding any other provision of law, Acts making appropriations may provide for the withholding of any payments from the United States to the government of Guam which may be or may become due pursuant to any law and offset the amount of such withheld payments against any claim the United States may have against the government of Guam or the Guam Power Authority pursuant to this guarantee. For the purposeof this Act, undersection 3166 of the Revised Statutes (31 U.S.C. 191) the term ‘person’ includes the government of Guam and the Guam Power Authority. The Secretary mayplace such stipulations as he deems appropriate on the bonds or other obligations he guarantees.”. TITLE IV—VIRGIN ISLANDS Sec. 401. (a) Subsection (b) of section 31 of the Revised Organic Act 1706. of the Virgin Islands (43 U.S.C. 1545tb), as amended, is further amended by numbering the existing paragraph “(1)” and by the addition thereto of the following new paragraph: ‘(2) Subject to valid existing rights, title to all property in the Virgin Islands which may have been acquired by the United States from Denmark under the Convention entered into August 16, 1916, not reserved or retained by the United States in accordance with the PUBLIC LAW 9%6-205—MAR. 12, 1980 94 STAT. 89 provisions of Public Law08-435 (88 Stat. 1210) is hereby transferred to the Virgin Islands povernment.”. ib) The General Services Administration shall release from the mortgage dated January 26, 1972, given by the government of the Vorpen Ishand: tothe Adnuatistrator of the General Services Adminis- tration, approximately ten acres of such mortgaged land for construction of the proposed Saint Croix armory upon payment by the government of the Virgin Islands of the outstanding principal due on such ten acres, Sec. 402. No extension, renewal, or renegotiation of the lease of real property on Water Island in the Virgin Islands to which the United States is a party may be entered into before 1992 unless such extension, renewal, or renegotiation is specifically approved by Act of Water Iblind property Congress. Sec. 403. (a) Subsection 28a) of the Revised Organic Act of the Virgin Islands is amendedby inserting after the words ‘‘and naturali- 4% USC 1612 ant to the Act of August 18, 1978, shall be immediately remitted to 92 Stat. 437. zation fees collected in the Virgin Islands,” the following: “Uess the cost of collecting such duties, taxes and fees as may bedirectly attributable (as certified by the Comptroller of the Virgin Islands) to the importation of petroleum products unti] January 1, 1982: Provided, That any other retained costs not heretofore remitted pursu- the Treasury of the Virgin Islands notwithstanding any other provision oflaw).” (b) The paragraph entitled “U.S. Customs Service” involving the coHection of customs duties in the Virgin Islands in the Act of July 25, 1979, is hereby repealed. Sec. 404. Subsection (d) of section 4 of Public Law 95-348 (92 Stat. 487, 491) is hereby repealed. Src. 405. Any excise taxes levied by the Legislature of the Virgin Islands may be levied and collected as the Legislature of the Virgin Islands may direct as soon as the articles, goods, merchandise, and commodities subject to said tax are brought into the Virgin Islands. Sec. 406. Not later than two years after the date of enactment of this Act, the Administrator of the General Services Administration shall convey, without consideration, all right, title, and interest of the United States in and to the property known as the former District Court Building (including the parcel of land upon which said building is located), 48 B Norre Gade, St. Thomas, Virgin Islands, to the Government of the Virgin Islands. Sec. 407. Subsection (f) of section 2 of the Act entitled “An Act to authorize the government of the Virgin Islands to issue bonds in anticipation of revenue receipts and to authorize the guarantee of such bonds by the United States under specified conditions, and for other purposes” (90 Stat. 1193; Public Law 94-392; 48 US C. 1574b) is amended by striking out the last sentence and inserting in jieu thereof the following language: “No commitment to guarantee may be issued by the Secretary, and no guaranteed but unobligated funds may be obligated by the government of the Virgin Islands after October 1, 1984. After October 1, 1984, any unobligated proceeds of bonds or other obligations issued by the government of the Virgin Islands pursuant to this section shall be repaid immediately by the government of the Virgin Islands to the lenders with the agreed upon interest. Should there be anydelay in the government of the Virgin Islands’ making such repayment, the Secretary shall deduct the requisite amounts from moneys under his control that would otherwise be paid to the government of the Virgin Islands under section 28(b) of the Revised Organic Act of the Virgin Islands.”. Repeal 94 Stat 122 48% USC if iva 48 USC 1641 note. Exeise taaes. 4X USC 1574 note District Court Building property, transfer Bonds, issuance. 26 USC T7652