P.R. Laws tit. 28, § 36b
The lots of land or parking lots shall be leased through public auction procedures and the directors and heads of agencies are authorized to prepare the regulations, specifications and contracts needed to comply with the provisions of this chapter. Provided, That the bidders’ auction proposals shall specify the parking lots available schedule for public use, the fee agreed upon and the insurance and guarantees required in favor of the agency, the Commonwealth and third persons. No bidder shall be accepted without proof of the insurance required in this chapter or in any other existing act that is applicable thereto. All bidders shall post a bond which shall be fixed by regulations, in order to comply with all the terms and clauses of the leasing contract.
The agency, municipality or instrumentality has to receive the endorsement and approval of the Secretary of Transportation and Public Works and of the Planning Board, prior to announcing the availability of the lot for partial leasing, at public auction.
History —Dec. 19, 1995, No. 237, § 3.