P.R. Laws tit. 21, § 5838

2019-02-20 00:00:00+00

§ 5838. Payment for loan

The payment of the two loans to be granted under §§ 5832–5841 of this title shall not be taken into account to calculate the maximum of the five-percent (5%) debt service established in § 6015(c) of this title, part of the “Puerto Rico Municipal Financing Act”. In the event that any municipality that avails itself of the terms of §§ 5832–5841 of this title has also obtained a loan under the terms of §§ 5821–5831 of this title, it may be restructured along with the current debt under the terms set forth in § 5835(a) of this title.

History —Oct. 11, 2001, No. 146, § 7; Nov. 16, 2001, No. 159, § 3.