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83d — Puerto Rico Law | CourtGPT
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  4. Title Thirteen - Taxation and Finance (§§ 1 — 33423)/
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  6. Chapter 6 - Interest Rate Exchange Agreements § 81 - Definitions/
  7. 83d
Puerto Rico Legal Code

83d

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(a) For the purpose of complying with the limitation of the interest rate established in § 56 of this title, the effective interest rate corresponding to the obligations of the Authority or any portion thereof that provide for the payment of interest at a non-fixed rate for the term of said obligations or portion thereof, in relation to which a qualified interest rate exchange agreement of the Authority is in effect which provides for the payment of a fixed rate by the Authority, shall be the fixed interest rate specified in said agreement.(b) For the purpose of complying with the limitation of the interest rate established in § 56 of this title, the effective interest rate corresponding to the obligations of the Authority or any portion thereof that provide for the payment of interest at a fixed rate for the term of said obligations or portion thereof, in relation to which a qualified interest rate exchange agreement of the Authority is in effect which provides for the payment of a non-fixed rate by the Authority, shall be computed according to the rules indicated in said § 56 of this title. History —Aug. 1, 2005, No. 39, art. 4, § 5.