Borrowing.-It Controls Up To The Sum Of Eight Billion Destined For Sports Promotion Works In The Republic.


Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now

Read the untranslated law here:

LAW Emprestito.a€ "it controls up to the sum of eight billion destined for works of sports development in the Republic."
ENRIQUE PEA'ARANDA C. President constitutional DE LA Repašblica since, Congress has sanctioned the following law: the National Congress DECREES: Arta-culo 1a °. â €"authorizing the Executive Branch to hire one or more Empra © partial stitos up to a total of eight millions of BOLIVIANS (Bs. 8,000,000. â €" "), the Central Bank of Bolivia or other banking institutions, with destination to works of sports development in the Republic Republic."
Arta-culo 2a °. a€ "the Empra © stito will be placed with the interest © s Ma maximum of the six per cent annual and the repayment cumulative also © n annual of the ten percent.!!"
Arta-culo 3a °. â €"(for the service of interest and repayment of the © stito, Desta-nase Empra: to) the highest yield of the tax on cigarettes and national and imported cigarettes obtained from the lifting of the unit price by ten percent, increase for which are authorized by this law the Fa national bricas and importers." Is Excepta ° tax surcharge in the price of sale on cigars and cigarettes produced in the Department of Chuquisaca, affected the sewage and Pavimentacia³n of Sucre by law on January 14, 1941 and the University of Chuquisaca by law of February 5, 1941;
(((((b) the total performance of the "Promotion of sport" tax in accordance with subparagraphs to), b), c) and d) of the Arta-culo 1a ° of the Decree Law of 9 April 1938, and revert in favour of the Committee © national sports all the remnants of this tax from the 1st of January 1941.
Arta-culo 4a °. â €"the resources defined in the previous Arta-culo Sera are exempt from the payment of the Commission to the Treasury, which determines the Supreme Decree of February 2, 1939."

Arta-culo 5a °. â €"the tax provided for by this law as a warranty service of interest and repayment to may not n be revoked nor diminishes-two until the total cancellation of the Empra © stito."
Arta-culo 6a °. â €"the General Directorate of internal revenue Depositara monthly in a special account in the Central Bank of Bolivia, to the order of the Committee © national sports, from proceeds of the taxes mentioned above, except for the departmental income referred to in the laws of March 3 and September 17, 1941, for the construction of the stadiums in Oruro and Cochabamba" respectively.
Arta-culo 7a °. â €"the Central Bank of Bolivia retained monthly these revenue share part affected in the service of the Empra © stito up to the amount required for the payment of interest, repayment and Banking Commission, the half of each maturity."
Arta-culo 8a °. â €"product A-ntegro Empra © stito Sera (invested with the following purposes: to) assignment of Bs. 700,000. â €" to each of the capitals of Department for sports constructions in general? "!"
Bs. 6.300.000. â €"b) for buildings of athletic fields in provinces by each Department Bs. 100,000. â €"?...
? 900,000. â €"c) acquisition of materials to establish sports stores in the Republic?..."
? 400,000. â €"d) National Championships and grants in the management of 1942?."
"400,000. â €" TOTAL? BS. 8,000,000. â €"Arta-culo 9a °. â €" Committee © national sports will have funds Empra © stito with complete independence in the order technical, according to the plan outlined in the previous Arta-culo, fastens staying by the Dema s, financial control established by the relevant laws.!!
Arta-culo 10a °. â €"the Central Bank of Bolivia or the banking institutions that float the stito total or partially, brought Empra n the functions of trust with all the powers inherent to the trustee, in representation of creditors.!"
Commune-that will to power Executive, for constitutional purposes.
Session of the H. Congress Hall.
La Paz, 27 November 1941.
A Galindo.a€ "Jorge Araoz C.a€" Gasta³n Muja-a, Senator Secretario.a€ "Julio CA © guests aa±ez, Senator Secretario.a€" Carlos WÃ lter Urquidi, Deputy Secretario.a€ "H. Sua S., Deputy Secretary, ad hoc rez."!
I therefore enacted it so you have and observe as the law of the Republic.

Government Palace in the city of La Paz, to the nine days-as of the month of December of nineteen hundred years cuarentiun.
GRAL. PEA'ARANDA. â €"Joaqua-n sword."