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5814 — Puerto Rico Law | CourtGPT
  1. Home/
  2. Laws/
  3. Puerto Rico/
  4. Title Twenty-one - Municipalities (§§ 1-4 — 6756)/
  5. Subtitle 7 - Municipal Property Tax/
  6. Part II - /
  7. Chapter 253 - Municipal Revenues Collection Center § 5815a - Funds—municipal Public Works/
  8. 5814
Puerto Rico Legal Code

5814

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A special fund is hereby established in the Government Bank named 'Municipal Matching Fund' which shall be kept separate from any funds of the Central Government or the municipalities. The total of the funds transferred to the municipalities in § 5815 of this title shall be covered into said Fund, pursuant to that which is provided in the trust contract that the Center is bound to subscribe with said Bank.\nThe funds set forth in subsection (a) of § 5815 of this title shall be received by the Government Bank, according to the collection covenants or agreements entered into with the Center. The funds from the sources indicated in subsections (b) and (c) of § 5815 of this title shall be transferred directly to said Bank by the Secretary through the procedures and norms applicable to such transfers.\nHistory —Aug. 30, 1991, No. 80, § 15.