Yungas Road. -Authorizes The Executive To Place A Loan Of Bs. 450,000, Earmarked For The Continuation Of The Work That Lists.

Original Language Title: CAMINOS DE YUNGAS. —AUTORIZA AL EJECUTIVO PARA COLOCAR UN EMPRÉSTITO DE BS. 450,000, DESTINADO A LA PROSECUCIÓN DE LOS TRABAJOS QUE ENUMERA.

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LAW OF DECEMBER 14, 1933

YUNGAS PATHS. †"Authorizes the Executive to place an undertaking of Bs. 450,000, destined for the continuation of the works it lists.

DANIEL SALAMANCA,

CONSTITUTIONAL PRESIDENT OF THE 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, by means of the Prefecture of La Peace and the Society of Owners of Yungas, contracted an undertaking up to the sum four hundred and fifty thousand Bolivians (Bs. 450 ,000.†") with the Central Bank or other bank institution, at an interest rate not exceeding nine percent a year and a cumulative amortisation that does not fall from four percent to the year, in order to continue and complete the automotive road of Nor Yungas and finish the one of Sud Yungas.

ArtA-ass 2A °. †"The amount of said undertaking or loan, shall be allocated to the following works.

For the adaptation to the traffic of rodice of the trunk road from Yolosa to Caranavi, and that of horseshoe to Caranavi of Huachi Bs. 125 ,000.â€"

equal adaptation of the yolk branch to the coffee area of Suapi, of the Mururata canton " 70 ,000.†"

For the completion of the road from Yolosa to the city of Coroico Bs. 70 ,000.â€"

For the adaptation of the road traffic of the road from Coroico to Coripata " 60 ,000.†"

For the conclusion of the road from Chulumani to Irupana " 30 ,000.†"

For the conclusion of road from the road of Chulumani to Ocobya" 20 ,000.†"

For the connection of the road from Irupaña â€" Laza " 10 ,000.†"

For the construction of the branch to Yanacachi" 10 ,000.†"

For the Villa Aspiazu branch" 5 ,000.†"

For the branch to the town of Chirca ..." 5 ,000.†"

For the payment of small balances of road contractors, who have worked under the administration of the Society of Yungas Owners" 45,000†"

ArtA-ass 3oâ€"For the placement of this undertaking, the following resources and taxes are created:

a) .†" The surplus of the resources referred to in the laws of 5 May and 23 November 1932, after Made the service of amortisation and interest of the loans contracted-two for the previously authorized undertaking of Bs. 550,000. †"to which these laws refer.

b) .â€" The additional tax of a Bolivian on every 46 kilos of café, incense, carcase, quina or cahusilla that is extracted from the provinces of Nor and Sud Yungas.

c) .†" The additional tax of 25 pennies on every 46 kilos of fruits that are extracted from the same provinces.

d) .†"The additional tax of ten cents on each basket or extract of coca from both provinces,

e) .â€" The tax of a Bolivian on every 46 kilos of cocoa from the same provinces.

ArtA-ass 4A °. †" The funds from this undertaking and the works referred to in this law will be administered and implemented by a Driving Board, composed of the Prefect of the Department of Peace, which will be chaired by the members of the Council of Management of the Society of Yungas Owners and a Delegate of the Board of Directors of the Central Bank, or of the bank institution or legal person to finance the undertaking.

ArtA-ass 5A °. †" The taxes created in points (b), (c), (d) and (e) of Article 3A, shall begin to apply from the day of January 1934, and shall be collected, under the control of the Prefecture of La Paz, by the Society of Owners of Yungas, owing the product of them to be deposited A-ntegrely every fifteen dA-as in the Central Bank; or the bank institution or legal person financing of the undertaking.

ArtA-ass 6A °. †" The value of the taxes owed by The Bolivian General Enterprise Limited, prior to the year 1926, will be invested in the completion of the road from Yolosa to Caranavi and in the horseshoe Caranavi to Huachi,

ArtA-ass 7A °. †" The Prefecture of La Paz and the Society of the Owners of Yungas are authorized to recast in a single undertaking the early days authorized by laws of 5 May and 23 November 1932 and the one established by this law, be contracting with the Central Bank and with another institution of credit, in better conditions than the existing ones.

ArtA-ass 8A °. †" While the validity of this undertaking and of the laws of 5 May and 23 November 1932, the extraction of the products referred to in those laws and the present, shall not be taxed with any other tax, tax

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

Session of the H. National Congress.

Peace, at thirteen of December, thousand nine hundred and thirty-three years.

J. L. Tejada S. †" F, Tamayo.

Bernardo Navajas Trigo, Senator Secretary.

C. Léparpez Arce, Deputy Secretary.

M. Calderación B., Deputy Secretary.

BY TANTO: I enact it so that it is and will comply with the law of the Republic.

Palace of Government, in the city of La Paz, at the fourteen days of December of a thousand nine hundred and thirty-three years.

D. SALAMANCA. †" Jn. Sword. †" José Salinas.

IS COMPLIANT:

A. Vera Alvarez,

Senior Finance Officer,