Borrowing. - It Authorizes The University "st. Simon" Cochabamba, Collapse One By Bs. 40,000,000.-.
Original Language Title: EMPRESTITO.— SE AUTORIZA A LA UNIVERSIDAD "SAN SIMÓN" DE COCHABAMBA, CONTRAER UNO POR BS. 40.000.000.—.
Read the untranslated law here: http://www.gacetaoficialdebolivia.gob.bo/index.php/normas/verGratis_gob2/50062
LAW on November 16, 1948, Emprestito.a€ "are authorized to the University"San SimÃ³n"Cochabamba, collapse one by Bs. 40,000,000. â €".
ENRIQUE HERTZOG G. Constitutional President of the Repašblica as: National Congress has enacted the following law: the National Congress DECREES: Arta-culo 1a ° â €"are authorized to the greater University of"San Gabriel"of Cochabamba for the hiring of an Empra © stito with the Central Bank of Bolivia or other loan institutions national credit or extraneras, the sum of forty millions of BOLIVIANS."
ARA-culo 2a ° â €"said Empra © stito will be A-ntegro product (guaranteed with the fourth part of the participation of 20% which corresponds to the University in the tax to the chicha of the Department of Cochabamba, according to subsection e) of Arta-culo ° of the law of 17 November 1947 2a.!"
Arta-culo 3a ° â €"in addition, the University Dara as warranty-a subsidiary of stito © Empra, plantations of eucalyptus in irrigation canals, of the"La Angostura"system, in the proportion required to cover the 40 million Bolivians."
Arta-culo 4Â ° â €"the payment of interest of 4% a year, repayment of 6% also annual and 1/8 of the Banking Commission, will be served with the product of the incomes referred to in the Arta-culos ° 2a and 3a °."
Arta-culo 5Â ° â €"If the operation is performed with the Central Bank, ã © sta institution brought the functions of trustee of the Empra © stito, may at any time make efforts conducive to the proper application of the funds, for which you will have a nato representative on the Board of auctions Universitària or director body of works.!"
Arta-culo 6a ° â €"the University Treasury of Cochabamba will attend semi-annually or annually, Sega º n possibilities payment of interest and repayment service, depositing to the effect into a special account that is created in the Central Bank, with the name of"College loan service", or which deems suitable.!!" In case of default, the Bank will retain the amount of the repayment corresponding, taking funds from the current account of the University.
7a ° â € Arta-culo "University reserves the right to redeem the Empra © stito before the age of 16, if it believed it suitable, liquidating interests and Commission to the date of cancellation, benefit staying with interest and other expenses."
Arta-culo 8a ° â €"expenses of Empra © stito, the Administration and all those who have to pay the trustee for the performance of their duties, including the Banking Commission, will be n covered with funds of the same current account at the University of"San Gabriel", notice that is will give the University treasure to a Ma ximum of 1/8 per thousand Arta-culo 9Â ° â €" the University of "San SimÃ³n" of Cochabamba! " , will have the faculty to ensure the correct Recaudación de chicha tax, because their performance affected the Empra © stito.
Arta-culo 10a ° â €"the contract will be signed by the President and the Treasurer of the University of"San Gabriel"."
Commune-contact to the Executive for constitutional purposes.
Session of the H. Congress Hall.
La Paz, 9 November 1948.
P Zilveti.a€ "A. Landa-var Ribera.a€" C. LÃ³pez Arce, S. S.â€ "o. Gutierrez © rrez, S. S, â €" A. Quezada, D. S.â€ "F. Guachalla, D. S."
I therefore enacted it is and meets as a law of the Republic.
Government Palace, in the city of La Paz, to the sixteen days-as of the month of November nineteen hundred forty and eight years.
E Hertzog.a€ "JosÃ © Romero Loza."
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