VICTOR PAZ ESTENSSORO
CONSTITUTIONAL PRESIDENT OF THE REPUBLIC
As soon as the Honorable National Congress has sanctioned the following Law:
THE NATIONAL CONGRESS,
D E C R E T A:
Article 1. The installation of a Sugar Wits in Bermejo, Arce province of the department of Tarija,
with a capacity of 6,000 tons of product in an average working time of a 75 day zafra. The project of the ingenuity must allow an increase of the production in the future up to 10,000 tons of sugar that must be reached by increase of the additional machines and partially by extension of the working time during the harvest.
Article 2. Authorize the Executive Branch, to agree, on behalf of the department of Tarija, the purchase of the
corresponding machinery with deferred payments and to contract one or several borrowings in the national or foreign banks up to a limit maximum of three million US dollars ($us. 3.000.000.-) for payment of part or all of the following items:
c) Civil works and/or
Article 3. For the service of redemptions and interest on the borrowings or for payments of the items to which you are
refers the previous article plus topographical uprisings, dismount and sugar cane plantations the following royalties are used on the production of hydrocarbons corresponding to the department of Tarija:
The consolidated debt of YPFB. until 1958
The one that results from the production of the Bolivian Oil Co. at December 31, 1960
One hundred percent of those produced by YPFB. and private companies in the years 1961 and 1962.
The percentage that was required of these same royalties from the year 1963, inclusive.
Article 4. The Bolivian Development Corporation will call for tender for the purchase of the machinery and
will draw up the comparative table of the proposals by raising it to the Executive Branch for its final decision.
Article 5. Also, the Bolivian Development Corporation is responsible for the installation and commissioning of the
ingenuity; for this purpose it will be able to manage before YPFB, and other companies mentioned in this law, leaving these companies obliged to cancel these percentages.
Article 6. The Bolivian Development Corporation will do a topographical survey of the lands that serve the
wit with sugar cane production and point out the place where it will be installed, giving preference to fiscal or reverse lands. State by the Law of Agrarian Reform respecting the right of endowment and settlement of the peasants. They declare ownership of the mill up to the extent of 2,000 hectares of fiscal land or reverted to the State, which may be sold or leased in whole or in part by the wits in lots not larger than 50 hectares.
Article 7. All applications for land concession in Bermejo are suspended, between the Corporation
and the Bolivian Development Corporation, make the selection referred to in the previous article, with the exception of the applications found in the title processing.
Article 8. Once the ingenuity has been installed and put in place, the Executive Branch, by decree, will establish its
operating system for the benefit of the department of Tarija.
Contact the Executive Branch for the constitutional purposes.
Meeting room of the H. National Congress.
La Paz, November 14, 1960.
Fdo. Gualberto Olmos, President of the National Senate, Egberto Ergueta Q., President of the H. Chamber of Deputies, Ciro Humboldt, Senator Secretary, Alberto Lavadenz, Senator Secretary, Hernan Medeiros, Deputy Secretary, Armando Mollinedo, Deputy Secretary.
Therefore, 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 and eight days of the month of November of a thousand nine hundred and sixty years.
FDO. VICTOR PAZ ESTENSSORO, A. Cuadros Sánchez, Minister of Finance and Statistics, A. Gumucio R. Minister of Economy Nl.