517

The Commonwealth of Puerto Rico, its agencies and political subdivisions, including the municipalities, are hereby authorized to cede and transfer to the Company any property or interest thereon (including property already devoted to public use) by petition of the latter and under reasonable terms and conditions, without the need to hold public bids and observe formalities of law other than the execution of the corresponding deed that the Company deems necessary and convenient to attain its purposes. In accordance to the preceding provisions, the property deed of any property of the Commonwealth of Puerto Rico, including the property deed of any property to be considered in the future, may be transferred to the Company by the officer in charge of the property or who has it under his jurisdiction.The government agencies may transfer to the Company, free of cost, the land that in the judgment of the Governor of Puerto Rico or the Legislature is needed to carry out its ends and purposes.These provisions shall not be construed in the sense of authorizing the cession or transfer of property destined for other purposes by legislative provision.The Company shall annually submit a list of

hese provisions shall not be construed in the sense of authorizing the cession or transfer of property destined for other purposes by legislative provision.The Company shall annually submit a list of the properties ceded or transferred by government agencies to the Company by virtue of the authorization contained herein and the estimated value of each property.The Company is likewise empowered to accept donations and transfers of public property owned by the United States of America, as well as the transfer and donation of private property. History —June 23, 1961, No. 114, p. 234, § 17; Apr. 8, 2001, No. 10, § 8.