Loan-Is Authorizes The Unicipalidad Of Santa Cruz, To Place The $ 80,000.-Aimed At The Conclusion Of The Palace Hall And A Ward Of The Hospital San Juan Of God.

Original Language Title: EMPRESTITO.- SE AUTORIZA A LA UNICIPALIDAD DE SANTA CRUZ, PARA COLOCAR EL DE $ 80,000.- DESTINADO A LA CONCLUSIÓN DEL PALACIO CONSISTORIAL Y UN PABELLÓN DEL HOSPITAL SAN JUAN DE DIOS.

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LAW

EMPRA%STITO. †"The Municipality of Santa Cruz is authorized to place the $80,000. †" going to the conclusion of the Consistorial Palace and a pabellón of the San Juan de Dios Hospital.

DANIEL SALAMANCA

CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA

For how much, the National Congress has The following law:

THE NATIONAL CONGRESS,

DECCRETA:

ArtA-ass 1A ° †"The Municipality of Santa Cruz is authorized to contract with guarantee-to special, an undertaking of Bs. 80 ,000.â€" interest of 10% a year and a service of amortisation and interest in the value of Bs. 4 ,500,†"

ArtA-ass 2A ° †"At the same time, the same Municipality is authorized to subscribe to the bonds of that undertaking, which will be designated" Emprásticto Municipal de 1932 ".

The bonds will constitute a commitment and direct obligations of the Municipality of Santa Cruz; they will be part of their debt; they will earn interest at the rate of 10% a year, will be redeemed by lot, quarterly, at a price equal to the the value of the same, on 30 March, 30 June, 30 September and 30 December of each year.

On each date corresponding to the payment of interest, these draws will take effect thirty dA-as before the date corresponding to the payment of interest, owing the Municipality to make them known by the press, detailing the number of the bonds that would have been drawn.

Any ordinary draw, will be made by the Municipal Treasury, with the intervention of the official of the Comptroller-a-Office and the Prosecutor. The bonds drawn and redeemed will be destroyed in the presence of the aforementioned authority, without this destruction means that the Municipality is exempted from carrying out the monthly service that will be stipulated in the special user.

The capital and their interests shall be exempt from any tax or contribution in force or to be created, whether national, departmental or municipal.

ArtA-arse 3A ° †"The net product of the undertaking will be invested by half of the completion of the works of the Consistorial Palace of Santa Cruz in current construction and the Pabellón of the sick of the Hospital San Juan de Dios The same city, not being able to be used in any other other object.

ArtA-ass 4A ° †"The payments that are made with these bonds or with the product of the same, will be agreed by the City Council of Santa Cruz, and previous intervention of the official destined by the Comptroller-General.

ArtA-ass 4A ° †"The payments they are made with these bonds or with the product of the same, will be agreed by the City Council of Santa Cruz, and prior to the intervention of the official destined by the Comptroller-General.

ArtA-ass 5A ° †"The Municipality of Santa Cruz will do the service of the undertaking through the Central Bank of Bolivia in its agency of this city, by opening a special account in which the necessary provisions for the service of amortisation will be accumulated. interest in the form indicated in Articles 1A and 2A.

ArtA-culo 6A ° †"The undertaking will be served with the tickets of the public market of Santa Cruz, whose income is allocated the minimum amount of Bs. 1 ,500,â€" monthly for the purposes of the distribution stipulated; resources that the Municipality of Santa Cruz gives, grants and directly or indirectly as garantA-to special and bond of interest service and amortisation of capital is sufficient its total cancellation.

ArtA-culo 7A ° †"The Municipal Treasury of Santa Cruz will deposit every first of the month from January 1932, the sum of Be. 1 ,500,â€" in the special quota mentioned in Article 5A, owing to the availability of other resources In the case of any eventuality, the income of the public market will not be able to cover the fixed monthly fee; for the faithful fulfillment of this provision, it is also established that the subsidiary is taxed on the General income of the Municipality.

ArtA-ass 8A ° †"The necessary expenses of the The municipality will be able to rescue the pair and at any time all the bonds in the city.

municipality will be ablerescue the pair and at any time all the bonds in the city. circulation and their respective interests, giving advance notice of three months by means of publications by the press.

ArtA-ass 10A °â€ " It is authorized for the bonds of this undertaking to be able to cover the bonds in the performance of the Municipal offices in Santa Cruz, in all cases required by law. It shall also serve for any payment of overdue debts at par and upon payment of accrued interest.

ArtA-ass 11A °â€ "From the second semester of the year 1934, the municipal bonds for the payment of any tax or municipal contribution should be included, including those of patents in general.

ArtA-culo 12A °â€" The bonds In the courts of five hundred, one hundred and fifty Bolivians that will take the date of the 1st of January 1932; will have printed the text of the law authorizing their issuance, the interest that they earn, the fee of amortisation, garanta-as that support them and the signatures of the President of the Municipal Council, of the official of the Comptroller-and- Municipal Treasurer. The bonds will be issued to the bearer, as the respective coupons, and the latter must be signed by the Municipal Treasurer.

Article 13A†" If the bonds are presented for their redemption without the coupons (a) the amount of the bonds and the coupons will be paid when they are presented. The payment of vouchers and coupons will be made by means of a check from the Municipal Treasury in charge of the special account of the Central Bank of Bolivia,

ArtA-culo 14A °â€ " The Central Bank of Bolivia is authorized to grant loans with the guarantee subsidiary of the bonds of the present undertaking, at 90% of its nominal value and according to its law orgA ¡ nica and to the provisions of the general law of Banks.

Communal-to the Executive Branch for the constitutional purposes.

National Congress cessions.

Peace 24 November 1931.

J. L. Tejada S. †" E. Gonzà ¡ lez Duarte.

Gabriel Palenque, S. S.†" H. Ducheñas, D. S.

Fernando LAónpez, D. S.

Therefore, he promulgated it so that it has and will comply as law of the Republic.

Palace of Government, in the city of La Paz, at the twenty-seventh day of the month of November of a thousand nine hundred Thirty-one years.

DANIEL SALAMANCA. †" D. Canelas.

COMPLIANT:

Estenssoro,

Major Finance Officer.