U.S. Virgin Islands

The exchange-traded fund — the first ever triple tax-exempt — will consist of 80% Puerto Rico bonds with the balance being U.S. Virgin Islands and Guam bonds.

Many say continued lower rate would threaten U.S. Virgin Islands' financial solvency.

The authority will borrow to pay off its debt at about 50 cents on the dollar.

A letter of credit would be used, in part, to help fund a settlement between WAPA and its fuel supplier Vitol.

The New York Fed said the tech sector's employment contraction impact on the New York City economy was unlikely to be significant.

At issue is the completion of a WAPA financial settlement with its fuel supplier, Vitol, to which it owes about $278 million.

The authority hopes to have solar and wind provide 30% of the islands' electricity within two years.

The bill's sponsor pointed to board members' need for expertise.

U.S. Virgin Islands Gov. Albert Bryan Jr. also voiced concern about the EPA closure of an oil refinery in St. Croix.

The authority's issues hamper the USVI economy, Gov. Bryan says in his state of the territory speech.