Road Sucre-Monteagudo-Cuevo.-Creates A Meeting In The Capital Of The Republic, Authorizing You To Place A Loan From $4.000,000, Earmarked For The Exploitation And Construction Of Roads.

Original Language Title: CAMINO SUCRE-MONTEAGUDO-CUEVO.—SE CREA UNA JUNTA EN LA CAPITAL DE LA REPÚBLICA, AUTORIZÁNDOLE A COLOCAR UN EMPRÉSTITO HASTA DE $ 4.000,000, DESTINADO A LA EXPLOTACIÓN Y CONSTRUCCIÓN DE CAMINOS.

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LAW

CAMINO SUCRE-MONTEAGUDO-CUUVO.†"A Board is created in the capital of the Republic, authorizing it to place an undertaking up to $4,000,000, destined for the exploitation and construction of roads.

DANIEL SALAMANCA

CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA

For how much, the National Congress has sanctioned the following law.

THE NATIONAL CONGRESS,

DECCRETA:

ArtA-ass 1A ° †"A Board of Roads is created in the capital of the Republic, which will be composed of of the Prefect of the Department, three members elected one by the Municipal Council, another by the Rural Society of Sucre and another by the banking institutions of the same city.

ArtA-Aculo 2A ° †" The Board of Roads of the Sucre, to contract an internal or external credit, partially or totally, up to the sum of four million bolivianos net or its equivalent in foreign currency, to invest exclusively in the improvements and conclusion of the road in exploitation and construction of the unstarted sections of the road Sucre-Padilla and Monteagudo to Cuevo, with a ramal to Muyupampa and Lagunillas.

ArtA-Aculo 3A ° †"The Board of Roads will have the option, prior to authorization from the Ministry of Finance, to sign contracts, issue bonds, choose and hire trustees and grant instruments are necessary both for lifting and redeeming, transforming or doing the good service of the credit that is authorized to it, for the construction of the works. The credit shall be an interest not greater than 10%, and the rate and conditions of redemption shall be estimated as permitted by the income for its service.

Article 4A ° †"The state may grant its guarantee to a subsidiary for this operation.

ArtA-ass 5A ° †"For the respective interest and amortisation service, the following resources are allocated.

1A ° †"A 10% surcharge on the current customs duty for gasoline, except for exceptions agreed by previous laws.

2A ° â€" One hundred thousand Bolivians to be entered annually in the National Budget.

3A ° †" 60% dedicated to the National Treasury, on the tax on the interest of the bank deposits in the department of Chuquisaca, except the taxes established on this tax prior to this law.

4A ° †" A surcharge of 1% which is created on the total of the aphoros practiced in the customs code.

5A ° †"The tax of pontazon is created on the bridge over the RA-or Azero, which for the service of this operation will be charged in the following form: a) Bs. 1.a €" for each head of cattle; b) Bs. 0.50 for each head of pigs, caballar (c) Bs. 0,20 for each head of wool and other not specified; (d) Bs. 1 ,†" for each vehicle to be used for animal or mechanical purposes.

ArtA-ass 6A ° †"All the rents indicated in the previous article and those that are subsequently assigned to the service of the undertaking authorized by this law, shall be deposited directly by the collecting entities, under their responsibility, in the special account that will be held at the Central Bank of the Board of Roads. The Executive Branch is authorized to grant and subscribe all legal instruments that seek the good perception of these rents and the application that will give them this law.

ArtA-ass 7A ° †"The execution of the works will be The Board of Caminos, especially in the administrative order, reserves to the General Directorate of the Public Works the supersurveillance and the final resolution in the technical order and to the Comptroller-General the legal intervention that corresponds to fund management.

ArtA-ass 8A ° †"The bonds and writes that are They shall issue and subscribe in accordance with this law to be exempted from stamps and from any national, departmental or municipal tax, to the capital they represent, to their dividends, or the income they give to their holders without any exception.

ArtA-ass 9A ° †"As long as the undertaking is contracted, the funds created by this law may be invested in continuing the work of the road roads to which they are intended.

ArtA-culo 10A °â€" this law and those that are opposed to it will be repealed.

Communicate to the Executive Branch, for the purposes of constitutional.

Meeting Room of the H. National Congress.

Peace, December 12, 1931.

J. L. Tejada S.†" G. RA-os Bridoux.

Gabriel Palenque, S. S. =Humberto Duchesy, D. S.

R. Corvera Zenteno, D. S.

Therefore, it was enacted so that it has and will comply with the law of the Republic.

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

DANIEL SALAMANCA. †" D. Canelas. †" F. Zambrana.

IS COMPLIANT:

R. Calderaction,

Major Development Officer.