P.R. Laws tit. 23, § 354
On or before August 31 of each year the Puerto Rico Ports Authority shall pay into the Commonwealth Treasury the sum of four hundred thousand dollars ($400,000) from the remainder of the income of said Authority corresponding to the preceding fiscal year, after meeting for the said fiscal year the operating and maintenance expenses of the Authority, the principal of and interest on its outstanding obligations and the reserves established by the Authority for such purposes (the remainder of which income shall be hereinafter known as “net income”). If in any fiscal year the net income is not sufficient to pay in full into the Commonwealth Treasury the sum herein fixed, the Authority shall be bound to pay only so far as the said net income may go, and in such case, the obligation of the Authority to make said payment in excess of its net income shall be cancelled and shall not constitute a future charge against the receipts of the Authority.
History —June 14, 1961, No. 60, p. 116, § 1, eff. July 1, 1961.