Title 48 — Territories and Insular PossessionsRelease 119-73
§745a Public improvement bonds sold to United States or agency thereof excluded from public indebtedness
Title 48 › Chapter CHAPTER 4— - PUERTO RICO › Subchapter SUBCHAPTER I— - GENERAL PROVISIONS › § 745a
Summary
Bonds or similar debt issued by Puerto Rico or one of its local governments that are paid only from the money a public project makes, and that are sold to the United States or a U.S. agency, will not count as the government’s public debt. The project’s money can include agreed transfers from the issuer’s regular funds when the issuer pays to use the project’s facilities.
Full Legal Text
Title 48, §745a
Territories and Insular Possessions — Source: USLM XML via OLRC
Bonds or other obligations of Puerto Rico or any municipal government therein, payable solely from revenues derived from any public improvement or undertaking (which revenues may include transfers by agreement or otherwise from the regular funds of the issuer in respect of the use by it of the facilities afforded by such improvement or undertaking), and issued and sold to the United States of America or any agency or instrumentality thereof, shall not be considered public indebtedness of the issuer within the meaning of section 745 of this title.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section was not enacted as part of the Puerto Rican Federal Relations Act which comprises this chapter.
Reference
Citations & Metadata
Citation
48 U.S.C. § 745a
Title 48 — Territories and Insular Possessions
Last Updated
Apr 6, 2026
Release point: 119-73