the people by initiative. Each bond issue shall be approved by a majority of the
qualified voters of the Virgin Islands voting on the question at a referendum.

 (b) Bonds may not be issued for the operating expenses of the Virgin Islands
 government, except that short-term bonds which are required to be repaid within one
 year may be issued by law to meet appropriations for any fiscal period in anticipation
 of the collection of revenue for that period or to meet casual deficits.

 (c) For the purposes of subsections (a) and (b) of this section, the term "bonds"
 shall include bonds, notes, and other instruments of indebtedness secured by the full
 faith and credit of the government of the Virgin Islands, and the computation of
 average total revenue shall not include monies received as grants from the federal
 government.

 (d) Bonds or other obligations of the Virgin Islands payable solely from
 revenues derived from any public improvement or undertaking may not exceed two
 and one-half times the issuing authority's average annual revenue for the previous
 three fiscal years, except that during the first three years of its existence a new
 authority may issue bonds as provided by law.

 Section 4. Comptroller General.

 (a) The Comptroller General shall be elected by the qualified voters of the Virgin
 Islands on a nonpartisan ballot and shall serve for a term of six years. The Comptroller
 General shall be a United States citizen, a qualified voter of the Virgin Islands, and a
 bona fide resident of the Virgin Islands for at least five years immediately preceding
 the date of taking office, and shall have such other qualifications as may be provided
 by law.

 (b) The Comptroller General shall audit all revenues, accounts, expenditures,
and programs of the government, its departments, offices, agencies, and
instrumentalities; shall make a public annual report and any special reports which may
be required by the Governor or the Senate; and shall perform other duties as may be
provided by law. In the performance of official duties the Comptroller General shall
have the authority to administer oaths, take evidence, and compel the attendance of
witnesses and the production of books, letters, documents, papers, records, and all
other articles necessary to the performance of those duties.

 (c) The Comptroller General may not hold any other public position while in
office, nor engage in any activity which would conflict with official duties and
responsibilities. The salary of the Comptroller General shall not be decreased during a
term of office.