P.R. Laws tit. 13, § 38
The Secretary of the Treasury of Puerto Rico is hereby empowered and authorized to borrow, with the approval of the Governor of Puerto Rico, as an advance of taxes, such amounts as in his judgment may be necessary for the payment of the principal of and the interest on the Commonwealth or municipal public debt under the terms and conditions, rate of interest, and amortization instalments, as the Secretary of the Treasury of Puerto Rico may determine, and he is likewise empowered and authorized hereby to issue certificates of indebtedness as proof of said loans, at not less than their par value and in such form or forms and in such denominations as he may determine. Both the principal and the interest earned on the amounts borrowed by the Secretary of the Treasury of Puerto Rico by virtue of §§ 35—43 of this title shall be paid from the proceeds of the taxes whose collection is anticipated, and if the amounts thus collected should not be sufficient to pay any instalment of the principal of, and the interest on, the certificates of indebtedness the issuance of which has been authorized, the Secretary of the Treasury of Puerto Rico is empowered and authorized to pay, and he is hereby directed to pay, said obligations from any available funds in the Commonwealth Treasury, which funds are hereby appropriated. The preceding provision in regard to the payment of the principal of, and the interest on, said debts and the certificates of indebtedness which are issued as proof thereof shall have the nature of a continuous appropriation and shall constitute sufficient authorization so that the Secretary of the Treasury of Puerto Rico may make said payments without its being necessary that new appropriations be made for that purpose.
History —Dec. 7, 1942, No. 33, p. 174, § 4, eff. 90 days after Dec. 7, 1942.