When establishing the terms of the contract and the minimum negotiated price, both contracting parties must be present: the contracting party and the contractor party. The minimum price shall not be less than the debt that could exist for the construction of said facility.The Secretary, the Bank and any public entity with a proprietary interest in said facilities shall be the contractor party.If the contract is with a municipality, public corporation or school of medicine, the mayor of the municipality shall be a contractor party, as well as any other municipal official designated by the mayor for said purpose, the representative of the public corporation or the president of the school of medicine, respectively. History —Jan. 1, 2003, No. 3, § 13.
Puerto Rico Legal Code