P.R. Laws tit. 23, § 6450

2019-02-20 00:00:00+00
§ 6450. Agreement between the Government of Puerto Rico and the bondholders

The Government of the Commonwealth of Puerto Rico pledges and agrees with the holders of any bonds issued under this chapter, and with those persons or entities that enter into contracts with the Authority pursuant to the provisions of this chapter, that it shall not limit nor alter the rights hereby conferred to the Authority until those bonds and the interest thereon are paid in full and said contracts are fully executed and honored by the Authority; Provided, however, That nothing provided herein shall affect or alter said limitation if adequate measures are provided by law for the protection of said bondholders, or of those who have entered into contracts with the Authority. The Authority, as an agent of the Government of the Commonwealth of Puerto Rico, is authorized to include this pledge on behalf of the Government of the Commonwealth of Puerto Rico on said bonds or contracts.

History —Sept. 2, 2000, No. 351, § 5.10; Oct. 4, 2001, No. 142, § 27.