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5825 — 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. 5825
Puerto Rico Legal Code

5825

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The debt assumed by the Center pursuant to what is stated above shall constitute a legal obligation of said body with the Government Development Bank or the financial institution chosen by the Center in representation of the municipalities, and shall be secured by the payment flow convened with the corresponding municipalities. This shall be stated in the financing documents executed for the granting of the loan.\nHistory —Jan. 26, 2000, No. 42, § 5.