P.R. Laws tit. 24, § 3128
The Trust shall have and be able to exercise all rights and powers that are necessary or convenient to achieve the purposes mentioned, including, but without limiting the general nature of the above, the following:
(a) Adopt an official stamp and alter the same at its convenience.
(b) Adopt regulations for the administration of its matters and the regulations and norms needed to exercise its functions and duties.
(c) Sue and be sued under its own name and be claimant or respondent in complaints.
(d) Receive and administer any gift, concession, loan, or donation of any property or money, including, but not limited to, those made by the government and the federal government, or any agency or instrumentality thereof, and spend or lend the product of the same for any of its purposes and comply with all conditions and requirements regarding the latter.
(e) Receive assistance of a consultative, technical, administrative and advisory nature from the Government of Puerto Rico.
(f) Provide to any benefited entity the funds needed to promote the Trust projects so as to be consistent with the purposes of this chapter.
(g) Pledge or assign any moneys, revenues, fees or any other income, including all or part of the moneys received or to be received from the Settlement Agreement, subject to the limitations established in § 3133(a) of this title.
(h) Borrow money and issue Trust bonds for any of its purposes, including, but not limited to, the financing of all or part of the costs and expenses of the projects, and loan or otherwise provide funds to a benefited entity, including, but not limited to, the payment of all or part of any debt of said benefited entity or for any other purpose authorized by this chapter.
(i) Invest its funds, as authorized through a resolution of the Board, subject to any restriction or limitation pursuant to §§ 1261 et seq. of Title 7, and to the trust contracts or resolutions authorizing the issue of bonds.
(j) Acquire through purchase lease, donation or otherwise, any real or personal property, with or without improvements, with or without liens, and rights over lands, even though they are inferior to the full ownership thereof, in order to execute any of its powers and purposes.
(k) Contract the services of engineers, consultants, architects, lawyers, accountants, financial consultants, appraisers, actuaries and those other consultants that in the judgment of the Trust could be required, and fix and pay their compensation from the funds available for such purposes.
(l) Retain, reacquire, or otherwise acquire the title to any real or personal property related to any Trust project that has been acquired with funds that the Trust has donated, granted, transferred or otherwise provided in favor of any benefited entity, and sell, lease, cede, donate, transfer or otherwise dispose of said real or personal property for those purposes that the Board of Directors deems prudent and necessary to achieve the objectives of this chapter.
(m) Exercise all powers inherent to the functions, prerogatives and responsibilities conferred by this chapter and perform any action or activity that is necessary or convenient to achieve its purposes.
History —July 30, 1999, No. 173, § 10; Dec. 28, 2000, No. 450, § 3.