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

Original Language Title: EMPRESTITO.- SE CONTRARÁ HASTA LA SUMA DE OCHO MILLONES DE BOLIVIANOS CON DESTINO A OBRAS DE FOMENTO DEPORTIVO EN LA REPUBLICA.

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LAW

ENTERPRISE.†" It is up to the sum of eight million Bolivians for sports promotion works in the Republic.

ENRIQUE PEA ' ARANDA C.

CONSTITUTIONAL PRESIDENT REPAsBLICA

FOR HOW much, the National Congress has sanctioned the following law:

THE NATIONAL CONGRESS,

DECCRETA:

ArtA-arse 1A °.†" The Executive Branch is authorized to hire one or more Partial early years up to a total of EIGHT MILLION BOLIVIANS (Bs. 8,000,000,†") , in the Central Bank of Bolivia or other banking institutions, for sports promotion works in the Republic.

Article 2A °.†" The time will be placed with the maximum interest of six percent a year and the cumulative amortisation also annual of ten percent.

ArtA-ass 3A °.†" For the service of interest and amortisation of the undertaking, please note:

a) The highest performance of the tax on cigarettes and cigars domestic and imported, which will be obtained from the sale price by ten percent, increase for which the national and importers are authorised by this law. The tax on the surcharge on the sale price on cigarettes and cigarettes produced in the Department of Chuquisaca, affected to the sewer and pavement of Sucre by law of 14 January 1941 and to the University of Chuquisaca by law of 5 February 1941;

b) The total return of the tax "Promotion of Sport" according to points (a), (b), (c) and (d) of Article 1A of the Decree Law of 9 April 1938, which must be reversed in favour of the National Committee. Sports all the remnants of this tax from 1A ° January 1941.

ArtA-arse 4A °.†" The resources of the previous article shall be exempt from the payment of the commission to the Fisco, which determines the Supreme Decree of 2 February 1939.

ArtA-ass 5A °.†" The taxes provided for by this Law as a guarantee-a for the service of interest and amortisation cannot be revoked or diminished-two until the total cancellation of the undertaking.

ArtA-culo 6A °.†" The General Directorate of Internal Revenue will deposit monthly in special account of the Central Bank of Bolivia, to the order of the National Sports Committee, the collections coming from taxes In addition to the departmental income referred to in the laws of March 3 and September 17, 1941, for the construction of the Estadios de Oruro and Cochabamba, respectively.

ArtA-arse 7A °.†" The Central Bank of Bolivia will retain monthly of these collections the quota affected to the service of the undertaking until the amount required for the payment of interest, amortisation and commission

ArtA-ass 8A °.†"The product A-ntegro of the undertaking will be invested with the following purposes:

a) Allocation of Bs. 700,000.â€" to each of the Capitals of Department for sports constructions in general? ?????????????????

Bs. 6.300,000.†"

b) For sports field constructions in provinces for each Department Bs. 100,000,â€"? ..

? 900.000.†"

c) Procurement of materials to establish Sports Stores in the Republic? ????? ..

? 400,000.†"

d) National Championships and Grants in the management of 1942 ?? ?? ?? ?? ?? ??.

"400.000.â€"

TOTAL? ??? Bs. 8.000.000.†"

ArtA-ass 9A °.â€" The National Sports Committee will have the funds of the undertaking with all independence in the technical order, according to the plan detailed in the previous article, subject to the same, in the financial to the control established by the relevant laws.

ArtA-ass 10A °.†" The Central Bank of Bolivia or the banking institutions that float the undertaking in whole or in part, shall exercise the functions of trust with all the powers inherent to the Trustee, in representation of the creditors.

Communicate to the Executive Branch, for constitutional purposes.

Session Room of the H. National Congress.

La Paz, November 27, 1941.

A. Galindo.†"Jorge Araoz C. â€" Gaston Muja-a, Senator Secretario.†"Julio CA©spedes AA ± ez, Senator Secretario.â€" Carlos WA ¡ lter Urquidi, Diputado Secretario.†" H. SuA ¡ rez S., Deputy Secretary, ad hoc.

BY TANTO,

Government Palace in the city of La Paz, at the nine dA-as of the month of December of a thousand nine hundred years old.

GRAL. PEA ' ARANDA.â€" Joaqua-n Sword.