P.R. Laws tit. 25, § 3051m

2019-02-20 00:00:00+00
§ 3051m. Agreements of the Government

The Government of the Commonwealth of Puerto Rico hereby commits itself and agrees with any person who subscribes or acquires bonds of the Authority to not limit or restrict the rights or powers hereby conferred upon the Authority until said bonds, their date notwithstanding, together with the interest on the same, are totally paid and withdrawn. The Government of the Commonwealth of Puerto Rico furthermore commits itself and agrees with any federal agency which, in case any federal agency builds, extends, improves or expands, or contributes with any funds for the construction, extension, improvement or expansion of any property of the Authority to not alter nor limit the rights or powers of the Authority in any manner whatsoever that may be incompatible with the continuous conservation and exploitation of said property or the extension, improvement or expansion of the same, or that may be incompatible with the proper execution of any agreements between the Authority and said federal agency; and the Authority shall continue to have and may exercise for as long as may be necessary or convenient for achieving the purposes of this chapter and for the purpose of any federal agency in building, extending, improving, expanding or contributing with the funds for building, extending, improving or expanding said property or part thereof, all the rights and powers conferred by this chapter.

History —Sept. 29, 2004, No. 508, § 15.