P.R. Laws tit. 22, § 346

2019-02-20 00:00:00+00
§ 346. Construction fund—Investment of unneeded funds

The Secretary of the Treasury of Puerto Rico is hereby authorized to invest pro tem in negotiable securities of the United States of America such sums existing in the Southwestern Puerto Rico Project—Irrigation System Construction Fund as he considers are not for the time being needed for the prosecution of the works of the Irrigation System. To this end the Executive Director of the Authority shall furnish the Secretary of the Treasury of Puerto Rico the estimates of the amounts needed and the dates on which same must be available for the effectuation of the said works. The interest earned by said investments shall be credited to the same fund “Southwestern Puerto Rico Project—Irrigation System Construction Fund”, and the same are hereby appropriated to, and placed at the disposal of the Authority, for the same purposes set forth in §§ 341—347 of this title.

History —Aug. 27, 1952, No. 23, p. 250, § 6.