P.R. Laws tit. 13, § 141m
The Secretary of the Treasury is hereby authorized to issue refinancing bond of the Commonwealth of Puerto Rico in order to refinance, in whole or in part, any payment of principal or interest of its outstanding bonds and to pay any expenses related with the sale or issue of said refinancing bonds. Any refinancing bond issued by the Secretary of the Treasury as empowered by this section shall comply with the provisions of this chapter, with the exception that it shall be exempted from compliance with the requirements of subsection (f)(3) of § 141b of this title. The refinancing bonds may be issued, at the discretion of the Secretary of the Treasury, at any time on or before the date of the payment or payments of the principal or interests of the bonds. The Secretary of the Treasury shall have the power provided by this section as of the date of approval of this act and up to June 30, 2012. The Legislature may extend the power granted to the Secretary of the Treasury in this section for an additional period by means of a joint resolution to such effects if it determines that said extension is necessary to continue with the efforts directed to achieving a balanced budget.
History —Oct. 10, 1985, No. 2, p. 848, added as § 14 on Mar. 9, 2009, No. 7, § 47.