P.R. Laws tit. 5, § 925
(a) The Commonwealth Government, the municipal governments and the Municipality of San Juan are hereby authorized to sell, lease and/or exchange their real property to and with cooperative associations incorporated pursuant to the laws of Puerto Rico without the prerequisite of a call for bids where required by law.
(b) The officials of the Commonwealth Government, the municipal governments and the Municipality of San Juan entrusted by law to execute such transactions shall carry out same at a reasonable price, provided said transactions are approved by the Governor of Puerto Rico as to their convenience for the public interests and the better development of the cooperative movement, and provided the Secretary of Justice renders a favorable report as to the legal aspects of such transactions.
(c) The alienations authorized by this section shall be carried out under the essential condition, which shall be a part of the sale contract, that the cooperative associations acquiring such real property shall be under obligation, in case of sale of said property, to resell same to the government entity from which they acquired it, if said entity is interested in reacquiring such real property and so informs the cooperative association not later than thirty (30) days after the latter has given notice of its purpose to sell it.
History —June 24, 1960, No. 97, p. 268, §§ 1-3.