P.R. Laws tit. 13, § 124
The good faith, credit and taxing power of the Commonwealth of Puerto Rico are hereby irrevocably pledged for the punctual payment of the principal of and accrued interest on the bonds issued under the provisions of this chapter. The Secretary of the Treasury is hereby authorized and directed to pay the principal of and accrued interest on said bonds as the same fall due from any funds available for such purpose in the Commonwealth Treasury during the fiscal year in which said payment is required, and the provisions contained in this chapter relative to the payment of the principal of and accrued interest on said bonds shall be considered a continuous appropriation for the Secretary of the Treasury to make such payments even if specific appropriations are not made for such purpose. Said payments shall be made in conformity with the provisions of the laws of the Commonwealth regulating disbursement of public funds.
In addition, the Secretary of the Treasury is hereby authorized to transfer, from time to time, to the fund known as “Special Fund for the Amortization and Redemption of General Obligations Evidenced by Bonds and Notes”, from any tax revenues of the General Fund, a sufficient amount to meet the payment of principal of and accrued interest on the savings bonds authorized by this chapter, plus a reasonable amount as reserve to redeem the savings bonds that may be presented for payment before maturity.
History —May 28, 1976, No. 69, p. 190, § 4.