Notwithstanding the provisions of § 4501 of this title, when the public interest requires it, the municipality may regulate the leasing of its real estate and chattels by ordinance, based on a reasonable rate, without being subject to public bidding. Said ordinance shall specify the reasons why it is deemed that it is fair and necessary to dispense with the public bidding requirement. The reasonable leasing rate shall be determined by taking as a basis the cost, and the useful life of the property, and the leasing rates prevailing in the market.\nThe leasing of niches or parcels that are to be used for the burial of the deceased, shall be excluded from the bidding procedure. The municipality shall provide for everything related to this matter, by ordinance.\nHistory —Aug. 30, 1991, No. 81, § 10.011, renumbered as § 9.011 on Jan. 10, 1999, No. 30, § 3.
Puerto Rico Legal Code