law of October 10, 1959
HERNAN MISSILES ZUAZO
CONSTITUTIONAL PRESIDENT OF THE REPASBLICA
For How Much: The National Congress has sanctioned the following Law:
ArtA-ass 1A °â€" AutorA-zase to the Executive Branch, in accordance with Article 58, attribute 5, of the State-Polish Constitution, to contract with the PROMOTION LOAN FUND (Development Loan Fund), dependent on the Government of the United States of América, a loan for: the sum of A MILLION FIVE HUNDRED THOUSAND DOLLARS ($us. 1.500,000.â€ ') , to the construction of a paved runway and to the installation of lighting, equipment for control of traffic and other related facilities at the Airport of "El Alto" of La Paz.
ArtA-Aculo 2A °â€ " The term authorized by this Law shall be placed at par, without any discount and shall be an interest that does not exceed 3 and 1/2% (THREE AND A HALF PERCENT ANNUAL), computable on the debtor balances.
Article 3A °â€ " Only once and with exceptional cter, the Executive Branch is authorized to, with charge of legislative approval, agree the necessary resources to cover the services of depreciation and interest of the loan, which will serve the same guarantee time-to the same.
ArtA-ass 4A °â€ " The address, control and supervision of the work of the "El Alto" Airport of La Paz, as the administration and investment of the funds from the loan and all other emerging limit of the contract of the loan, will be in charge of the Ministry of Public Works and Communications through the General Directorate of Civil Aviation, with this Office having to take all necessary measures aimed at the best use of the loan and the development of the works to which the credit is destined, with subject to the laws and regulations
ArtA-ass 5A °â€ " The Executive Branch is empowered to hire in the best possible way, the execution of the works of this Law with entities of recognized capacity and technical experience in this class of works and whose economic solvency is duly accredited, setting out the details and by establishing the corresponding guarantees, respecting pre-existing contracts.
ArtA-culo 6A °â€ " The Ministry of Finance and the State of the Republic is authorized to subscribe to and deliver to the order of the Fund for the Promotion of The Central Bank of Bolivia should be involved in the operation of the Central Bank of Bolivia as a trustee.
ArtA-ass 7A °â€ " The resources for the attention of the Bolivian currency expenses that demand the execution of the work of the landing strip and other planned works, will be financed with the funds coming from of the American Assistance that the Government of Bolivia could agree with the Government of the United States of America. Any other expenditure not covered in the above form, from the year 1960, will be included in the National Budget, Service of Public Works and Communications.
ArtA-ass 8A ° â€ " The import of materials, automobiles, trucks, vans, vans, heavy equipment, tools, radio and meteorological equipment, furniture, accessories and other equipment intended exclusively for construction work, installation, operation and maintenance of the " El Alto " de La Paz, is absolutely freed from the payment of rights and customs taxes, as of any other charge, tax or taxes of national, departmental and municipal cter created or to be created in the Republic, owing in each case of importance, the corresponding Ministerial Resolution.
ArtA-culo 9A ° â€ " Likewise, they are released from the payment of any national, departmental and municipal tax established or to be established in the country, the contract of loan and the interest that accrued, the payments and payments of such loan, including profit tax, timbres, paper
Article 10A ° â€ " The Executive Branch will designate the persons who will subscribe to the contract of the Government of Bolivia, with all the necessary legal powers.
ArtA-culo 11A ° â€ " The Executive Branch will regulate this law.
Communicate to the Executive Branch for constitutional purposes.
Session of the H. National Congress.
La Paz, October 9, 1959.
(Fdo.) Ruben Julio Castro, President of the National Senate. â€ "Juan Sanjináns Obando, President of the CA of Diputados.â €" Ciro Humboldt B., Senator Secretario.â€ "Fernando Ayala Requena, Senator Secretario.â€" Ranulfo Molloja H., Deputy Secretary. â€ " Zenân Barrientos Mamani, Deputy Secretary.
BY TANTO: I enact it so that it has and will comply as the Law of the Republic.
Government Palace, in the city of La Paz, at ten days of the month of October of a thousand nine hundred and fifty-nine years.
(Fdo.) HERNAN MISSILES ZUAZO, Constitutional President of the Repúsblica.â€ "H. Poppe Marta-nez, Minister of Public Works and Communications.â€" H. Moreno CARódhoba, Minister of Finance and Statistics.