Key Benefits:
SUPREME DECREES
COMPANYÂ € " AutorA-zase to the Board of Public Works of La Paz to contract up to the sum of Bs. 50,000,000,â €"
ENRIQUE PEA ' ARANDA C. CONSTITUTIONAL PRESIDENT OF THE REPASBLICA.
FOR HOW much, the H. National Congress has sanctioned the following law:
THE NATIONAL CONGRESS,
DECCRETA:
ArtA-arse 1A ° .†" The Board of Public Works of La Paz is authorized to hire an undertaking to the pair in a single operation or in several, up to the amount of 50 million Bolivians, whose product will be destined to the continuation of the works of the potables, sewerage, paving and channeling of the RA-or Choqueyapu the city of La Paz and Villa de Obrejes.
ArtA-culo 2A ° .†" The reference period may be placed by bias as required by the needs of the works to be executed and shall become more than 6% a year and shall have an initial cumulative amortisation of 4%. Also annual, it must be made in addition extraordinary redemptions with the surplus of resources tied to the operation. It may be agreed with the Institute of Credit to place the undertaking an interest and a more convenient depreciation.
ArtA-ass 3A ° .†" In garantA-a payment of the service of interest and redemptions that are agreed, the Board of Public Works of La Paz, will affect with lien and letter in favor of the creditor or the bondholders of the Emprósticto, all the greater performance that produces the surcharge established by this Law with relation to the Items I, II, III, IV, V and VI of Article 3A of the Decree Law of 29 July 1937, those which are It will remain in force and without any reduction until the full payment of the obligation. Likewise, the taxes created by points (b) and (d) of Article 2A of the Law of 25 February 1920, the national, departmental and municipal contributions, created by Decrto Ley of 27 January 1937, 50%, are reattached to this operation. of the tickets of the platform charged at the railway stations in the city of La Paz, leaving for this modified purpose the Supreme Resolutions of 2 September 1922 and January 17, 1931.
ArtA-ass 4A ° †" All items included in this operation that correspond to collections made by the National Customs, will participate proportionally of all the surcharges dictated or to be dictated.
5A ° .†" A tax of one and a half per cent (1 l | 2 per cent), on sales, is established as an additional tax on the one created by Decree Law of 25 July 1939, on all goods-to be imported into the department of La Paz, for consumption in the with the exceptions set out in the aforementioned Decree Law.
ArtA-culo 6A ° †" The tax of 20 cents on each mineral quintal of minerals produced in the Department of La Paz, created by laws of 4 and 23 January 1919 and raised to 40 cents by Decree law dated August 17, 1939, rises to Bs. 5,†" surcharges.
ArtA-ass 7A ° †" The following taxes are created without surcharges:
a) â€" A tax of 10 cents on a litre of gasoline consumed in the Department of La Paz, which will be collected and delivered quarterly to the Board of Public Works of La Paz for Bolivian Oil and Oil Fields Institution to replace it;
b) †"A tax of four cents per gross kg of wood, pà ¡ ráros 189 al 195 inclusives del Arancel de Customs, which is imported to the Department of La Paz and for consumption in the same,
c) .â€" A tax of 5 Bolivians per Iron quintal for constructions that interne the Department of Peace;
d) .†"A tax of a Bolivian for every one hundred kilos of national or foreign cement consumed in the Department of La Paz;
e) .â€" A tax of 10 Cents on bottles of gaseous, mineral and other water and 5 cents on half bottles produced in the Department of Peace.
ArtA-culo 8A ° .†" The A-ntegra collection of the resources mentioned in this law will be deposited directly by the collecting entities, under their responsibility, in the special account that For the effect on the Central Bank of Bolivia. This collection will be made by the Board of Public Works of La Paz and in the cases of participation is empowered to carry out the convenient oversurveillance. The Trustee and Tax Agent of this undertaking, if any, shall have the power to raise them directly without further authorization in the event that the funds raised by the relevant administrative authorities, deposit in the prescribed form.
ArtA-ass 9A ° .†" It is declared free of all national, departmental or any other taxes, both the capital and the interests of the undertaking authorized by this law, vouchers and coupons in case they are issued by the Trustee for their
ArtA-ass 10A ° .†" The Central Bank of Bolivia, or the Institution that takes charge of the float of the authorized undertaking, will assume the functions of the Trustee of the same, taking into account therefore the representation of the bondholders and all the rights and actions required for the fulfillment of the Trust.
ArtA-ass 11A ° †" The Trustee will be paid by the Board of Public Works of La Paz, with one per thousand year, on the service of the undertaking, It is necessary to make the payment with the funds from the collection of the resources given in guarantee-a of the obligation. In addition, you will be reimbursed for all the expenses incurred in respect of the management of the undertaking.
ArtA-arse 12A ° .†" In case the Central Bank of Bolivia subscribes all or part of the undertaking authorized by this law, such operation shall be tax-cter and shall not be computed in the lA-limit indicated by paragraph 6 Article 53 (e) of its OrgA law.
ArtA-ass 13A ° .†" The garantA-as established by the service of this undertaking will not affect the income of the University of La Paz.
ArtA-ass 14A ° .â€" All laws are repealed and administrative provisions that are in contradiction with this law.
ArtA-article 15A ° .†" The Executive will regulate this law, especially regarding the functioning of the Board of Public Works of La Paz and its responsibilities.
Communicate to the Executive Branch, for the purposes
The meeting room of the H. National Congress.
Peace, February 11, 1941.
Gabriel Palenque.â € "Rafael de Ugarte.â €" Prof. C. Beltrà ¡ n Morales, Senator Secretario.â € "Julio Pantoja Estenssoro, Senator Secretary ad hoc.â €" E. del Portillo, Deputy Secretary. A. Villalpando, Deputy Secretary.
BY TANTO, I enact it so that it has and will comply with the law of the Republic.
Palace of Government of the city of La Paz, at ten and eight days of the month of February of a thousand nine hundred A year of the
GRAL. PEA ' ARANDA.â € " Oscar Mariaca Pando.â €" Joaqua-n Sword.
