P.R. Laws tit. 13, § 83d
(a) For the purpose of complying with the limitation of the interest rate established in § 56 of this title, the effective interest rate corresponding to the obligations of the Authority or any portion thereof that provide for the payment of interest at a non-fixed rate for the term of said obligations or portion thereof, in relation to which a qualified interest rate exchange agreement of the Authority is in effect which provides for the payment of a fixed rate by the Authority, shall be the fixed interest rate specified in said agreement.
(b) For the purpose of complying with the limitation of the interest rate established in § 56 of this title, the effective interest rate corresponding to the obligations of the Authority or any portion thereof that provide for the payment of interest at a fixed rate for the term of said obligations or portion thereof, in relation to which a qualified interest rate exchange agreement of the Authority is in effect which provides for the payment of a non-fixed rate by the Authority, shall be computed according to the rules indicated in said § 56 of this title.
History —Aug. 1, 2005, No. 39, art. 4, § 5.