P.R. Laws tit. 7, § 270
The Commonwealth of Puerto Rico guarantees the payment of the principal of and interest on debenture bonds issued by the Agency for the purposes authorized by this chapter in an aggregate principal amount which shall not exceed seventy five million dollars ($75,000,000). The debenture bonds covered by this guaranty shall be those specified by the Agency, and a statement of such guaranty shall be set forth on the face of such debenture bonds. If at any time the funds deposited in the account of the Insured Mortgages Reserve Fund pledged for the payment of principal of and interest on such debenture bonds are insufficient for the payment of such principal and interest when they fall due, the Agency shall draw from any of its unencumbered funds the necessary sums for the payment of such principal and interest overdue, and shall direct that said sums be covered into the Insured Mortgages Reserve Fund; and should said sums be insufficient for the payment of such principal and interest when they fall due, the Secretary of the Treasury shall draw from the Redemption Fund, established by former §§ 401—403 of Title 13, or from any available funds in the Treasury of Puerto Rico, such sums as may be necessary to cover the deficiency in the amount required for the payment of such principal and interest, and shall direct that the sums so drawn be applied to such payments. The good faith and credit of the Commonwealth of Puerto Rico are hereby pledged for such payments.
History —June 25, 1965, No. 87, p. 216, § 10; May 3, 1973, No. 16, p. 54; July 23, 1974, No. 215, Part 2, p. 123, § 1; Dec. 5, 1975, No. 11, p. 961, § 1.