annual session for 1955 shall commence on the second Monday in January 1955, and
shall continue in regular session for not more than sixty consecutive calendar days.
The Governor may call special sessions of the legislature at any time when in his
opinion the public interests may require it, but no special session shall continue longer
than fifteen calendar days, and the aggregate of such special sessions during any
calendar year shall not exceed thirty calendar days. No legislation shall be considered
at any special session other than that specified in the call therefore or in any special
message by the Governor to the legislature while in such session.

 (b) Sessions of the legislature shall be held in the capital of the Virgin Islands at
Charlotte Amalie, Saint Thomas. *



 8. {Legislative powers and activities-Scope of authority; limitation on
enactments and taxation.)

 (a) The legislative authority and power of the Virgin Islands shall extend to all
 subjects of local application not inconsistent with this Act or the laws of the United
 States made applicable to the Virgin Islands, but no law shall be enacted which would
 impair rights existing or arising by virtue of any treaty or international agreement
 entered into by the United States, nor shall the lands or other property of nonresidents
 be taxed at a higher rate than the lands or other property of residents.

 (Government bonds; maximum amount; sale, interest, etc.)

 (b) The legislature of the government of the Virgin Islands may cause to be
 issued on behalf of said government bonds or other obligations for a specific public
 improvement or specific public undertaking authorized by an act of the legislature,
 which bonds or obligations shall be payable solely from the revenues directly derived
 from and attributable to such specific public improvement or public undertaking. The
 total amount of such revenue bonds which may be issued and outstanding from all
 such improvements or undertakings at any one time shall not be in excess of
 $10,000,000. Bonds issued pursuant to this subsection may bear such date or dates,
 may be in such denominations, may mature in such amounts and at such time or
 times, not exceeding thirty years from the date thereof, may be payable at such place
 or places, may carry such registration privileges as to either principal and interest, or
 principal only, and may be executed by such officers and in such manner as shall be
 prescribed by the government of the Virgin Islands. Said bonds shall be sold at public
 sale and shall be redeemable after five years without premium. In case any of the
 officers whose signatures appear on the bonds or coupons shall cease to be such
 officers before delivery of such bonds, such signature, whether manual or facsimile
 shall, nevertheless, be valid and sufficient for all purposes, the same as if such officers
 had remained in office until such delivery. The bonds so issued shall bear interest at a
 rate not to exceed 5 per centum per annum, payable semiannually. All such bonds
 shall be sold for not less than the principal amount thereof plus accrued interest. All