The Financial Oversight and Management Board for Puerto Rico has announced that its first meeting will be held the Friday, September 30th in New York to elect a chairman and address other organizational matters. Subsequent meetings will be held in mid-October and mid-November. The November meeting is likely to be held in Puerto Rico.
The Board also announced its agenda for the September meeting:
- Election of the Board’s chairperson
- Adoption of the Board’s bylaws
- Initial designation of covered entities under the Act
- Request of a Fiscal Plan and other information from the Governor of Puerto Rico
- Establish a process for the search of the Board’s executive director and certain key personnel
- Other administrative matters
The scheduled meeting comes after a briefing last week in Washington with U.S. Treasury Department officials in which the board was given an overview of Puerto Rico’s economic situation.