LLOYD AA%REO BOLIVIANO.â€ " The transfer of items to attend to the grants agreed to this Company is authorized.
TCNL. GERMAN BUSCH,
CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA,
FOR HOW much: the National Convention has sanctioned the following law:
THE NATIONAL CONVENTION
ArtA-ass "Regardless of the current tax on the muko, it is created ten cents for each bottle of chicha to be produced in the Department of Cochabamba, which will be paid to the manufacturer at the time of the elaboration.
ArtA-ass 2A ° .â€ "The performance of this tax will be allocated for the following purposes:
20% of the proceeds in each province for public works in the province, according to the needs of its different districts;
The remaining 80% of the proceeds in the provinces of the Department and the total perceived in that of the Cercado, to continue the works of pavements of that city of Cochabamba, until its conclusion.
ArtA-ass 3A ° .â€ "Terminated the pavement or once the counter-A is cancelled with such an object referred to in item 4A, the performance of the tax will be distributed nn the following way:
50% of the collected in the provinces for the public works of each of them.
The remaining 50% and the totality of what was obtained in the province of Cercado, to expand and improve the service of the drinking water of the capital of the Department.
ArtA-arse 4A ° .â€ " The Executive Branch is authorized to contract in any bank institution or entity of the Republic, a loan or undertaking up to the sum of ten million Bolivians (Bs. € 10,000,000,€ ') , whose placement will be made,
staggered, in two years and guaranteed with the tax created by the item 1A °, of this Law.
This shall be due to the interest of 6% per year and shall have an initial cumulative amortisation of 4%. The year can be carried out extraordinary with the surplus of collections of the resources reattached to the operation.
The total amount of this undertaking will be invested in the paving works of the city of Cochabamba.
ArtA-culo 5A ° .â€ "The management and administration of the funds destined for public works in the city of Cochabamba The Trust of the respective Comitals, in charge of the ComitÃ© of the Departmental Public Works and in the provinces, will be in charge.
ArtA-ass 6A ° .â€ "The Bank or the firm that takes charge of the float of the authorized undertaking, may assume prior acceptance, the functions of Trustee of the same, having, therefore, the representation of the holders of bonds and all rights and actions required for the fulfillment of the Trust.
ArtA-ass 7A ° .â€ "The Services of the Trustee will be paid by the Government, with a commission of one per thousand year on the amount of the original sums given to the account of the undertaking; the payment with the funds coming from the collection of the resources given in guarantee-a of the obligation. In addition, you will be reimbursed for all expenses incurred in respect of the management of the undertaking.
ArtA-ass 8A ° .â€ " In case the Central Bank subscribes all or part of the undertaking authorized by this law, its investment shall not be computed within the limit indicated by paragraph 6A (E) of Article 53 of its law. Orga ¡ nica.
ArtA-ass 9A ° .â€ "The tax created by this law and those established on the muko by law of January 18, 1927 and Decree-law of December 9, 1938, are unique and exclusive of any other charge, be of national character departmental or municipal, except that of five cents that falls on bottle of chicha introduced, to the city of Cochabamba, according to the municipal ordinance in force.
ArtA-culo 10.â€ " The Executive Branch will dictate the regulation respective.
Communicate to the Executive Branch for constitutional purposes.
" The sessions of the H. National Convention.
La Paz, 5 September 1938.
Renato A. Riverin.â€ " A. Ländivar Z.â€ " J. L. RodrA- guez.â€" Conventional Secretaries.
TANTO: I enact it so that it is held and complied with as law of the Republic;
Palace of Government, in the city of La Paz, to 12 September 1938.
TCNL. G. BUSCH.â€ " V. Mendoza LATOPfish.
H. The Villar P.
Chief Financial Officer.