Road Cochabamba-Ichilo - Chimore. -Autorizn The Placement Of A Loan Of $3,500,000. -For Jobs, And Sets The Resources To Serve Interests And Amortization.

Original Language Title: CARRETERA COCHABAMBA-ICHILO-CHIMORÉ. — SE AUTORIZN LA COLOCACIÓN DE UN EMPRÉSTITO DE $ 3.500.000. — PARA LOS TRABAJOS, Y FIJA LOS RECURSOS PARA EL SERVICIO DE INTERESES Y AMORTIZACIÓN.

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.

LAW

COCHABAMBA HIGHWAY-ICHILO-CHIMORA%. †" The placement of a $3,500,000 undertaking is authorized. †" for the works, and fixes the resources for the service of interest and amortisation.

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 contract an internal loan or This is an external action, up to the sum of three million five hundred thousand Bolivians (Bs. 3.500,000.).

ArtA-arse 2A ° †"The investment of the product of the project is destined:

a) â€" To the construction of the road Cochabamba road to the confluence of the RA-os Ichilo-ChimorA©, following the route accepted by the Resolution Supreme of 2nd November 1931.

b) †" For a way of horseshoe, starting from Montepunco on the road Cochabamba-Totora, go find the road before. For this work, it will be allocated to the sum of Bs. 250,000. †".

ArtA-arse 3A ° â€"The interest of this undertaking shall be no more than 9% per year and the annual cumulative amortisation of mA-nima, of 2%, may be increased by amortisation, as permitted by the income for its service.

ArtA-ass 4A ° †"The interests and amortisation of the internal loan or external action referred to in this law shall be addressed with the following resources:

a) â€" The fee of Bs. 1.30 as per the law of January 18, 1927 (Article 4A (d)) is recognised on the income of the muko tax in the department of Cochabamba, for the quality of the Chapare,

b) †"The lA-liquid performance of the tax on alcohols and spirits elaborated in the Department of Cochabamba.

c) â€" A departure of Bs. 25,000. †"to be entered in the departmental budget of Cochabamba, annually.

ArtA-ass 5A ° â€"If this operation is not financed, the funds referred to in this law shall be applied exclusively to the aforementioned works together with the resources to be obtained for the same purpose.

ArtA-culo 6A ° †"The CompaA ± A-a Recaudadora will deposit the funds from the tax on alcohols and spirits in the Central Bank of Bolivia to the order of the Minister of Development.

ArtA-arse 7A ° †"The administration and investment of these The Ministry of Public Works will be in charge of funds. Having the Comité de Vialidad al Chapare the supersurveillance over the works.

ArtA-culo 8A ° †"They declare themselves free of all national, departmental or municipal taxes, bonds, coupons and interests and all due diligence and operations leading to the credit and its investment.

ArtA-culo 9A ° †"The international machinery, accessories and material that are indispensable for the works are released from customs duties, and the 50% reduction in their transport is granted.

For constitutional purposes.

Session of the H. National Congress.

La Paz, January 4, 1932.

J. L. Tejada S. †" E. González Duarte. C. Rojas, S. S. †" H. Duchân, D. S. †" Julio CA©spedes AA ± ez, D. S.

BY TANTO: the law for the law of the Republic to be held and complied with.

Government Palace, in the city of La Paz, at the six days of the month of January of a thousand nine hundred Thirty-two years.

D. SALAMANCA. †"D. Canelas.

IS COMPLIANT:

Estenssoro, Major Finance Officer.