P.R. Laws tit. 3, § 8973
Government units may use appropriated funds, bonds, or any kind of investment or loan instrument created and authorized by the Government Development Bank, and the constructs of lease or financial lease contracts, lease contracts with call option, and installment contracts to acquire lighting control equipment, accessories, devices, and systems, including natural light-harvesting systems.
Guaranteed energy savings performance contracts may provide for financing, including financing through a third party. For financing, either sought by the energy savings company or provided by a third party (bank or financial institution), a clause shall be included to establish that the energy savings company or the financial entity shall have no more rights or privileges than those due under the energy savings performance contract. However, both the energy savings companies and the government unit shall seek financial advice from the Government Development Bank for the project in question in order for the government unit to be able to compare and/or choose the most convenient public or private financing alternative from among those presented by the energy savings company or the Government Development Bank. In discharging this duty, the Government Development Bank is under the obligation to include and consult the Energy Affairs Administration by reason of its being the agency with the specialized knowledge in the energy efficiency and renewable energy field, which specialized knowledge shall enable the Government Development Bank to recommend the most appropriate public or private financing option in benefit of the government unit.
History —Jan. 17, 2012, No. 19, § 2.12.