P.R. Laws tit. 22, § 230
After the properties of the Hydroelectric System are conveyed to the Authority as provided in § 229 of this title, beginning with the fiscal year commencing July 1, 1955 and in each fiscal year thereafter until the principal of and the interest on all of the present outstanding bonded indebtedness incurred by the Commonwealth of Puerto Rico for the account of the Puerto Rico Public Irrigation Service, South Coast, shall have been paid or until provision for the payment thereof shall have been made, the Authority shall:
(1) Set aside from its gross revenues, as an item of Current Operating Expenses of the Authority, the sum of one hundred and fifty thousand dollars ($150,000); and
(2) from the sum representing the five percent (5%) of its gross revenues deriving from the sale of electricity to consumers during each fiscal year and set aside pursuant to the provisions of § 212(b) of this title, after setting aside the sums provided in Act No. 2 of May 31, 1950, as amended, and Act No. 200 of May 14, 1948, as amended by Act No. 74 of 1954, the Authority is hereby authorized and directed to allocate the sum of fifty thousand dollars ($50,000); and the Authority shall cover the total of the said two (2) sums into the Irrigation Fund established by §§ 251—259 of this title, to be applied to the reduction of the annual assessments as provided in those sections, in lieu of the estimated net receipts which would have resulted from the operation of the Hydroelectric System.
History —June 20, 1955, No. 83, p. 314, § 3, eff. July 1, 1955.