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(a) For meeting the necessary operating expenses of the Board, there is hereby created the Puerto Rico Housing Research Board Fund, into which shall be covered all unexpended funds, items and balances of the appropriations of the Model Housing Board, and such annual appropriations as are made to the Board.(b) All property, funds and records of the Model Housing Board shall be transferred to the Board to be used and applied in connection with its functions. The Board may make arrangements with the Puerto Rico Housing Authority and other government dependencies to contract for the use of suitable office quarters and the necessary administrative services, for the administration and maintenance of the property of the Model Housing Board hereby transferred to the Board, and for disposing of said property. The proceeds from such property as is disposed of shall be covered into the fund hereby created.(c) [Repealed.](d) The Board shall assume all obligations contracted by the Puerto Rico Model Housing Board up to the effective date of this act. All acts done and obligations contracted by the Model Housing Board from July 1, 1954 until the Board created hereby starts operations, are

o Model Housing Board up to the effective date of this act. All acts done and obligations contracted by the Model Housing Board from July 1, 1954 until the Board created hereby starts operations, are hereby expressly legalized and validated. History —Sept. 28, 1954, No. 2, p. 30, § 4; May 16, 1957, No. 8, p. 29.