P.R. Laws tit. 7, § 583
The Bank shall be and it is hereby appointed and authorized to act as Financial Advisory and Reporting Agency to the Governor of Puerto Rico and to the Secretary of the Treasury of Puerto Rico. The Bank is hereby directed to prepare and submit to the Governor of Puerto Rico and to the Secretary of the Treasury of Puerto Rico, prior to the issuance, sale or exchange by the Commonwealth Government or by the Secretary of the Treasury of Puerto Rico of any bonds, notes or other evidences of indebtedness, issued pursuant to the provisions of any law authorizing the issuance, sale or exchange of such bonds, notes or other evidences of indebtedness by the Commonwealth Government, its agencies or by the Secretary of the Treasury of Puerto Rico, a report as to the feasibility of such financing procedure, including the Bank’s recommendation as to maximum interest rate, redemption privileges and premium therefor, maturity schedule, proper sale procedure and other relevant information.
History —May 15, 1945, No. 272, p. 952, §§ 3, 15.