P.R. Laws tit. 24, § 3130
All annual payments received by the Government of Puerto Rico under the Settlement Agreement shall be initially covered into the Trust account. Subsequently:
(a) Any appropriation, legacy, gift or contribution from any person to the Trust, (including any government instrumentality which is expressly authorized to make such contributions to the Trust), and
(b) all income (including revenues on the interest) received from the investment of the Trust moneys, shall be covered into the Trust account.
The Executive Director, or his designee, or the Board, are hereby authorized to create within the Trust those accounts which may be necessary to achieve the purposes of this chapter and to segregate all or part of the moneys covered into one (1) or more of said Trust accounts. The funds deposited in said accounts may be used to defray the administrative, operating and maintenance expenses of the Trust projects. The Board shall, subject to any legal or contractual obligation then in effect, determine into which of the Trust accounts shall all or part of the deposits referred to in this section be made.
The moneys in the Trust account shall be invested and reinvested in any obligation or instrument approved by the Bank under the provisions in §§ 1261 et seq. of Title 7, pending their use for the purposes under the conditions specified in this chapter.
The Trust funds may be invested in any obligation or instrument approved by the Bank pursuant to §§ 1261 et seq. of Title 7, which allows the Bank to decide how to invest the funds under its administration. The Bank shall ensure that the investments to be made generate the maximum yield permitted by market conditions, and shall render to the Board of Directors a quarterly report of its activities.
History —July 30, 1999, No. 173, § 12.