The pledging or assignment of the income of a revenue generating project granted under the provisions of this chapter shall be valid and effective without the need for any subsequent action. The operating and/or lease contracts executed by the mayor or other duly authorized official with operators or lessees of revenue generating projects shall be valid even if the executing officials have ceased their function, provided the execution has met the requirements of the applicable laws.\nHistory —July 3, 1996, No. 64, § 20, renumbered as § 23 and amended on Aug. 12, 1997, No. 75, § 22.
Puerto Rico Legal Code