Loan-Is Warranted For Bs. 10,000,000 For Several Works.

Original Language Title: EMPRESTITO.- SE AUTORIZA POR BS. 10.000.000.- PARA VARIAS OBRAS.

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law of 16 JANUARY 1934

EMPRA%STITO.†"Is authorized by Bs. 10,000,000,⠀" for various works.

DANIEL SALAMANCA

CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA

For: Congress National, has sanctioned the following law:

THE NATIONAL CONGRESS

DECCRETA:

ArtA-arse 1A ° .†"The Executive Branch is authorized to hire an undertaking up to the sum of Bs. 10,000,000,â€", with the A maximum of 6% per year and the initial cumulative amortisation of 4% to the year-on-year basis of the taxes and special income which were created to serve and to guarantee the operations contracted with the Central Bank on the dates and quantities which are noted below, of the resources affected by law of 13 May 1921 at the time of the F. C. La Paz al Beni and the income created by law of December 14, 1933,

Contract with the Central Bank of July 30, 1931 for Bs.2.300,000.†"Contract with the Central Bank of July 14, 1933 for." 52.000.†"Contract with the Central Bank of 16 May 1933 and 24 June 1933 for" 185.000.†"Contract with the Central Bank of September 7, 1933 for" 313.000.†"

L

The taxes and rents referred to and which are affected by this undertaking are as follows.

Tax of a Bolivian on coca at the provinces of Nor and Sud Yungas;

Additional taxes of ten cents, on each basket or at the same time in the same provinces;

Recargo of 25% established by point (a) of Article 1A. of the Law of 10 March 1928 on the territorial tax of the Department of La Paz, created by law of October 15, 1874, article 19;

cadastral tax of three per thousand on the venal value of all the different, non-coca-producing prodiities located in the two provinces of Yungas;

With the fixed sum of Bs. 40,000. †", taken from the income obtained by the society of Yungas Owners, by way of the tax called real in basket and toll;

With 70% of the tax on the intervention of cattle by the customs of the Republic, corresponding to 30% to guarantee a loan for the service of drinking water, sewerage and paving of the city of Tarija;

Tax on kilage, as referred to in the law of June 13, 193o;

With the product of alcohol and spirits taxes occurring in the province of Nor Yungas;

With taxes accrued by The Bolivian Enterprice Ltd, and those of the same company must pay for tax land taxes in Nor and Sud Yungas;

With two Bolivians over every 46 kilos of café, incense, and quina or cacharilla that is extracted from the provinces of Nor and Sud Yungas,

With fifty cents on every 46 kilos of fruit to be extracted from them;

With the tax of one Bolivian on every 46 kiles of cacao extracted from them;

The totality of the resources affected by law of May 13, 1921 at the time of the F. C. of La Paz to the Beni;

2A ° †"Crate also the following resources intended, likewise, to serve and to guarantee the credit .

Bs. 5 :†" for each head of cattle extracted from any of the roads of the Beni to Yungas and La Paz;

Bs. 0.50 on every 46 kg of any product that is taken out on the same roads.

AdemA, in case of insufficient resources or decrease in its performance, the Executive Branch is authorized to give in garantA-to others from the departmental cter, to the amount required by the service of this operation.

ArtA-ass 3A ° †"The previous taxes will be maintained up to the total payment of this credit obligation.

ArtA-ass 4A ° .†"The product of this operation shall be applied for the purposes that are immediately detailed, thus being modified the distribution contained in the article 2A °. of the aforementioned law of December 14, 1933;

To cancel the balances of the previous loans to the Central Bank 2.500,000.†"For the end of the road Chulumani-San Borja" 300,000.†"For the end of the road to Coroico (Secciaron Yolosa-Coroico)" 70.000.†"For the studies of a road that a road of Yungas with a navigable point in the RA-or Beni

" 250.000.†"

For the continuation of the path of rodice from Yolosa to CaranavA-" 1.200.000.†"Funds intended to continue the road works of La Paz al Beni and the National Territory of Colonies and their connection with Apollo

" 3.940.000.†"

For the road of automobiles from Chulumani to Irupana" 50,000.†"For the way of the city of Coroico to that of Coripata" 60,000,†"For payment of balances owed to contractors of the roads to Yungas, repair, conservation and widening of the roads built in that region and new connections and end of the road to Irupana.

" 300,000.†"

For the redemption of the bonds of the F. C. of La Paz to the Beni by Yungas (Law of 13 May 1921).

"950.000.â€"

For a reservation fund. " 380.000.†" Total Bs. â€"â€"â€"â€"â€"â€"â€" 10.000,000,†"

ArtA-ass 5A °. †" A Board of Roads that will be composed of the Prefect of the Department of Peace, of the President of the Society of Yungas Owners, of a representative of the institution or institutions that finance the undertaking, of a representative The Department of the Beni and a technical adviser who will have a voice but no vote, will take care of the strict collection and deposit of the income affected to the operation, as well as the collection, administration and investment of the funds in the works indicated must fix their attributions the Regulatory Decree of this law.

ArtA-culo 6A ° .†"The supersurveillance of the works and approval of plans, studies and other technical conditions, will be carried out by the General Directorate of Public Works, in accordance with the legal provisions governing this class of jobs.

ArtA-ass 7A ° .†"The Executive power, at the level of the Board of Caminos referred to in this law and after report of the Directorate of Public Works and the Trustee, may: 1A°) use in all or in part of the Reserve Fund in any of the works mentioned, in the event that the funds allocated to they will be insufficient; 2A°) to authorize transfers of surplus funds from completed works, to others that require it.

ArtA-ass 8A ° †"All the rents mentioned in this law and those that are subsequently assigned to the service of the undertaking, shall be deposited directly by the collecting entities, under their responsibility, in the special account which shall be held at the Central Bank by the Board of Roads; and the Trustee or the creditors shall have the right to to directly raise the income concerned to the undertaking in the event that it is not deposited in the

ArtA-ass 9A ° †"They are declared free of all national, departmental and municipal taxes, without exception, the bonds, coupons, interest, loan documents and writings corresponding to this operation.

ArtA-ass 10A ° †"In case the Central Bank subscribes all or part of this undertaking, it shall not be computed within the limitation indicated by point 6A (e) of Article 53 of its Law Qrgà ¡ nica.

ArtA-ass 11A ° †"Once the undertaking referred to in the law of 6 June 1931, 20% of the tax on the import of livestock, has been cancelled, it shall apply to the works indicated in Article 4A of the law of 15 November 1932.

ArtA-ass 12A ° †"All laws that are opposed to the present shall be repealed, while the taxes and garanta-as created by them, shall be maintained only, except for toll taxes established by law of 23 November 1932, which Instead of supporting like the others this operation, it will apply only to the expenses of the conservation of the roads of Yungas.

Communal-to the Executive Branch, for the constitutional purposes.

Session of the H. Congress National,

La Paz, a quince de enero de mil novehundred thirty y cuatro aà ± os.

J. L. Tejada. S. †"Bernardo Navajas Trigo, Senator Secretario.â€" F. Tamayo. .†"C. Líparpez Arce, Deputy Secretario.â€" F. Leitón H., Deputy Secretary.

Therefore: the law to have and comply with the law of the Republic.

Palace of Government, in the city of La Paz, at ten and six days of the month of January of a thousand nine hundred and thirty-four (a)

D. SALAMANCA.†" Joaquin Espada.â€" Josâ© Salinas.

IS COMPLIANT:

J. Zarco Kramer,

Senior Finance Officer.