Beautifully engraved Specimen Revenue Bond Certificate from the Puerto Rico Aqueduct and Sewer Authority
dated 1973. This historic document was printed by the American Banknote Company and has an
ornate border around it with a vignette of the Puerto Rico Adueduct. This item has the printed signature of the Chairman and is over 32 years old.
The Puerto Rico Aqueduct and Sewer Authority is a public corporation and an instrumentality of the Commonwealth of Puerto Rico. The Authority was created in 1945 under Act Num. 40 for the purpose of owning, operating and developing all of the public water supplies and sewer systems in Puerto Rico. The Authority's capital is generated by non-reimbursable legislative appropriations from the Commonwealth, grants from various agencies of the Federal Government of the United States of America, donations in kind or in cash from various governmental agencies and instrumentalities of the Commonwealth, developers and internally generated funds. As a public corporation and an instrumentality of the Commonwealth, the Authority is exempt from the payment of taxes. Under the entity concept for financial reporting, the Authority is included in the general purpose financial statements of the Commonwealth.
About Specimen Certificates
Specimen Certificates are actual certificates that have never been issued. They were usually kept by the printers in their permanent archives as their only example of a particular certificate. Sometimes you will see a hand stamp on the certificate that says "Do not remove from file".
Specimens were also used to show prospective clients different types of certificate designs that were available. Specimen certificates are usually much scarcer than issued certificates. In fact, many times they are the only way to get a certificate for a particular company because the issued certificates were redeemed and destroyed. In a few instances, Specimen certificates were made for a company but were never used because a different design was chosen by the company.
These certificates are normally stamped "Specimen" or they have small holes spelling the word specimen. Most of the time they don't have a serial number, or they have a serial number of 00000. This is an exciting sector of the hobby that has grown in popularity over the past several years.