ENTERPRISE € "The Executive Branch is authorized to hire, in or out of the paA-s, up to $10,000,000,â €", by allocating the product to cover the expenses of the public administration during the current financial year.
CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA
For how much, the National Congress has sanctioned the following law:
THE NATIONAL CONGRESS
ArtA-arse 1A ° â€ "The Executive Branch is authorized to contract or In the present economic year of 1931, until the amount of ten million bolivianos, it has been undertaken in or out of the country, up to the amount of ten million Bolivians.
ArtA-ass 2A ° â€ "The placement of the loans or purposes will be adjusted to the following bases.
Annual rate of no greater than 9%.
Annual cumulative Amortization not less than 2%.
Type of placement not less than 95%.
Credit for all or part of any interest payments.
ArtA-ass 3A ° â€ "To serve the service of the loans and the payment of interest and amortisation, the Executive Branch, is entitled to constitute a first tax on all income or tax resources for other purposes, and as a guarantee-a subsidiary of all the income already paid.
garantA-as the tax from the elaboration of alcohols and spirits in the Department of Santa Cruz, the same as for special laws is destined for the financing of the Ferrocarril Cochabamba-Santa Cruz.
ArtA-culo 4A ° â€ "AutorA-zase also to the Executive Branch to issue Vales of Customs, within the conditions and ten million Bolivians, established by the article 1A ° â€ " of this law.
Communicate to the Executive Branch, for constitutional purposes.
Session of the National Congress.
La Paz, June 6, 1931.
J. L. Tejada S,â€ "Franz Tamayo.â€" Josá© Salinas Senator Secretary ad-hoc.â€ " Ed. Zapčovič Lílá ¡ rraga Diputado Secretario.â € " J. Ml. de la Quintana Diputado Secretario.
Therefore, he promulgated it so that it has and will comply with the law of the Republic.
Palace of Government in the city of La Paz, at the thirteen days of the month of June of a thousand nine hundred thirties.
DANIEL SALAMANCA.â€ " D. Canelas.
OR. Paz Estenssoro
Chief Finance Officer.