P.R. Laws tit. 21, § 5837
2019-02-20 00:00:00+00
Any guarantee of payment contracted by CRIM pursuant to what is established in §§ 5832–5836 of this title, shall constitute a legal obligation of said entity with the Bank and shall be secured with the flow of payments agreed upon with the corresponding municipalities. It shall so be stated in the financing documents signed for the granting of the loan. CRIM may guarantee the loan with the Bank and with the financing entity against the collection of the basic municipal tax which guarantee shall constitute a legal obligation of CRIM.
History —Oct. 11, 2001, No. 146, § 6; Nov. 16, 2001, No. 159, § 2.