P.R. Laws tit. 22, § 259

2019-02-20 00:00:00+00
§ 259. Use of surplus in irrigation fund

In the event that there remains in the Irrigation Fund any of the proceeds of the sale of the bonds for the irrigation system over and above the amount required for the completion of the construction thereof, and for such other purposes for which bonds may be issued hereunder or under the prior acts authorizing the issue of bonds on account of the irrigation system, such surplus proceeds shall be used for the payment of the principal falling due upon outstanding irrigation bonds at such time as the Puerto Rico Electric Power Authority shall determine, or in the event that all such bonds shall have been retired, then for such other purposes connected with the irrigation system as the Puerto Rico Electric Power Authority may determine.

History —Sept. 18, 1908, p. 152, § 31; Apr. 8, 1913, No. 128, p. 54, § 32.