P.R. Laws tit. 24, § 342i
(a) When the funds available for a specific fiscal year are not enough to cover the disbursements for said fiscal year, first priority shall be given to the payment of interest and the amortization of obligations issued under subsection (d) of § 342g of this title, and then the other disbursement shall be made pursuant to the priorities that are established by law.
(b) On or before the last day of each month of every fiscal year, the Executive Director of the Administration shall transfer from the funds set aside under § 342m of this title or from any other available funds, to a fund that shall be designated as “Special Fund for the Amortization and Redemption of Obligations”, an amount equal to (1) one sixth (⅙) part of the interest to be paid in the next six (6) months, and (2) one twelfth (1/12) part of the principal to be paid or that must be amortized within the next twelve (12) months, of all obligations incurred under subsection (d) of § 342g of this title.
(c) The moneys covered into said Special Fund shall only be disbursed for the payment of the principal and interest on obligations incurred by the Administration.
(d) The moneys covered into said Special Fund shall be kept in trust by the Government Development Bank and they shall be invested and reinvested in direct obligations or those secured by the Government of Puerto Rico or the Government of the United States or any agency or instrumentality thereof, which shall mature or be subject to redemption at the option of the holder thereof, no later than the respective dates when such moneys are required for the purposes of this section.
(e) The revenues accrued through the investment and reinvestment of the funds shall be kept in the Special Fund to create an additional reserve for the payment of the principal and interest on the obligations.
History —June 22, 1978, No. 66, p. 203, § 10.