Railway Potosi-Sucre. -Is Authorized To The Executive For The Conversion In One Of The Contracts Concluded With The Central Bank, According To Credits For The Construction.

Original Language Title: FERROCARRIL POTOSÍ-SUCRE. —SE AUTORIZA AL EJECUTIVO PARA LA CONVERSIÓN EN UNO DE LOS CONTRATOS CELEBRADOS CON EL BANCO CENTRAL, ACORDANDO CRÉDITOS PARA LA CONSTRUCCIÓN.

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LAW

POTOSA RAILROAD • -SUCRE. †"The Executive is authorized for the conversion in one of the contracts concluded with the Central Bank, agreeing on loans for the construction.

DANIEL SALAMANCA

CONSTITUTIONAL PRESIDENT OF THE REPASBLICA.

As soon as the National Congress has sanctioned the following law:

THE NATIONAL CONGRESS

DECCRETA:

ArtA-culo 1A ° †"AutorA-zase to the Executive Branch to celebrate with the National Bank of Bolivia a Contract of conversion of the two loans that it has granted to the State for the works of the Railway PotosA-Sucre, for a total of Bs. 4.2000 ,000.†" according to public writings of 2 December 1929 and 26 August 1930, emerging of the laws of 10 October and 13 November 1929.

ArtA-ass 2A ° †"The new obligation will not result in an interest greater than (7%) seven percent a year and will be guaranteed by the resources provided for in the law of October 10, 1929 for the railway undertaking PotosA -- Sucre, and other income that the Executive deems appropriate to grant, either on first mortgage or as garantA-to subsidiary. For the service of interest and amortisation, the sum of Bs. 500,000 will be entered in the National Budget. †" per year.

ArtA-culo 3A ° †" The authorization granted by the Military Junta of Government to the National Bank of Bolivia is approved, so that its deposits with the view and three dA-as seen, in London or New York, will be considered as part of its The National Bank of Banks said that it is exclusive to the National Bank of Banks, which in the same sense and dated August 20, 1930, granted the Superintendence of Banks. Bolivia, and will be in effect only until the government has amortized 30 percent of the credit.

ArtA-arse 4A ° †"Since, as a result of the operations set out in Article 1A, the National Bank has exceeded the limit set by Article 140 of the General Law of Banks for the obligations of the Bank. of the State, such institutions are authorized to maintain with the exception of such excess, that it should be reduced to the legal limit as a measure of the amortizations that are effected in the obligation authorized by this law.

ArtA-ass 5A ° †"Exonase from the timings payment the scriptures to which the transformation of the credit that the State recognizes in favor of the National Bank, and it was in turn in that of the Central Bank, related to this law.

The Community-to the Executive Branch, for the constitutional purposes.

The sessions of the National Congress.

La Paz, 1A ° of February 1932.

J. L. Tejada S. †"G. RA-os Bridoux.

Gabriel Palenque, S. S. â€" H. Duchân, D. S. †" Fernando LAólpez, D. S.

FOR TANTO, promulgated it so that it has and complies with the law of the Republic.

Palace of Government, in the city of La Paz, at the four days of February of a thousand nine hundred and thirty-two years.

D. SALAMANCA. †"D. Canelas.

IS COMPLIANT:

Fernando Campero Alvarez, Senior Finance Officer.