P.R. Laws tit. 23, § 3064
At the discretion of the Authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the Authority and a corporate trustee, who may be any trust company or bank having the powers of a trust company within or without the Commonwealth. It shall be lawful for any bank or trust company incorporated under the laws of the Commonwealth or any state of the United States which may act as depositary of the proceeds of bonds, revenues or other money hereunder, to furnish such guarantees or to pledge such securities as may be required by the Authority. In addition to the foregoing, any such trust agreement may contain such provisions as the Authority may deem reasonable and pertinent for the security of the bondholders.
History —June 10, 1974, No. 62, Part 1, p. 239, § 14, renumbered as § 11 on Sept. 27, 1994, No. 112, § 11.