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8004k — Puerto Rico Law | CourtGPT
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  3. Puerto Rico/
  4. Title Twelve - Conservation (§§ 1-16 — 8162)/
  5. Subtitle 8 - Environment II/
  6. Chapter 501 - Environmental Public Policy Sub/
  7. Subchapter IV - Environmental Emergencies § 8004a - Definitions/
  8. 8004k
Puerto Rico Legal Code

8004k

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The Environmental Quality Board is hereby authorized to solicit, obtain and maintain a line of credit with the Government Development Bank for up to twelve million, five hundred thousand dollars ($12,500,000), to be sued exclusively, if necessary, to manage environmental emergency situations which require the use of all existing funds in the Environmental Emergency Fund. Repayment of this line of credit shall be under the care of the Office of Management and Budget, pursuant to the terms and conditions set by the Government Development Bank. If any case should arise which requires the use of all funds available in the Environmental Emergency Fund as well as the line of credit authorized under this section, the Board shall issue a certification to the Governor in connection with the environmental emergency situation and the amount of funds necessary to respond thereto or to remedy the pollution problem, and the latter shall authorize the use for such purpose of the funds available in the Emergency Fund created by §§ 457–465 of Title 3, through the corresponding executive order. History —Sept. 22, 2004, No. 416, § 42, eff. 6 months after Sept. 22, 2004.