P.R. Laws tit. 2, § 74a
The Comptroller of Puerto Rico shall acquire, lease, sublease, own, use, and dispose of whatever real property is needed to house the headquarters of the Office. Such real property may be acquired by any lawful means, including, but not limited to, the sale, assignment, exchange, or lease with an option to buy.
Furthermore, the Comptroller shall be empowered to enter into contracts to carry out construction, repair, renovation, improvement, or extensions works for its facilities; and it may finance such transactions through the Government Development Bank for Puerto Rico, any of its subsidiaries or affiliates, or through a public or private banking institution. The repayment of any obligation incurred for such purposes with the Government Development Bank for Puerto Rico or with any other public or private banking institution shall proceed from the annual budget appropriations received by the Office of the Comptroller of Puerto Rico.
Likewise, the Comptroller shall have the authority to reserve, encumber, or pledge, in whole or in part, the budget appropriations currently used for the payment of the lease of the different real properties that house the headquarters of the Office, so that such appropriations are used for the debt service payment of any obligation incurred under this provision.
The Comptroller is likewise empowered to mortgage, sell, and exchange or otherwise dispose of real property acquired in accordance with this provision. Once the real property is acquired, the Comptroller shall have the authority to lease part of its facilities to public or private entities provided it is proven that such lease would yield a financial benefit necessary and convenient for the operation of the Office of the Comptroller and that the space to be leased is not essential to fulfill the ministerial functions thereof.
Said office shall not be subject to the provisions of §§ 901 et seq. of Title 22, known as the “Public Buildings Authority Act”, and shall adopt the regulations needed to implement the powers conferred herein.
History —July 24, 1952, No. 9, p. 16, added as § 4 on Jan. 10, 1999, No. 38, § 1; Dec. 24, 2011, No. 275, § 1.