Municipalities. -Is Authorized To It Of Chuquisaca For Issuing Bonds By Via Of Loan Local.

Original Language Title: MUNICIPALIDADES. — SE AUTORIZA Á LA DE CHUQUISACA PARA EMITIR BONOS POR VÍA DE EMPRÉSTITO LOCAL.

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November 16 ACT

MUNICIPALITIES. †" The Chuquisaca is authorized to issue bonds by local public service.

SEVERE FERNANDEZ ALONSO,

CONSTITUTIONAL PRESIDENT OF THE REPAsBLICA

FOR HOW much: the national congress has sanctioned the Next law:

THE NATIONAL CONGRESS,

DECCRETA:

ArtA-culo 1.A ° †" The municipal council of Chuquisaca, is authorized to launch in the month of January a local undertaking of a hundred thousand Bolivians in Bolivian docent bonds each. These bonds will earn the interest of ten percent year-on-year and the cumulative amortisation of six percent.

The bonds will be issued with number followed, signed by the president and secretary of the council, accompanied by the respective coupons for the payment of interest, and keeping all necessary precautions against the imitation A³.

ArtA-article 2 A ° †" The interest service will do so on a quarterly basis, as well as the one for redemption by lot, with the legal guarantees of the case and in the form and dates indicated, in the attached table, with the tolerance A maximum of five dA-as of each maturity. For this purpose, the sum of ten and six thousand Bolivians will be fixed in its annual budget, up to the total extinction of the contractual obligation.

Art. 3. ° †" The council reserves the right to practice extraordinary redemptions, by drawing, by paying the value of the sorteads and their accrued interest to the credit, without taking into account the increase A³ low that they had these values in the public market. It is therefore forbidden to negotiate on them.

ArtA-ass 4. ° †" They are intended as garantA-to mortgage the building and land left over from the theater in construction, and for the regularity of the service twenty-five percent

total amount of the undertaking will be spent in the construction of the theater "Grand Marshal Sucre"without which in any case can be distracted any more object.

ArtA-article 6. ° †" Eximiidos of all tax taxes are exempted from common and extraordinary interest and amortisation credits, asA-as of stamps, preliminary carA, mortgage, etc.

Executive branch.

Session of the national congress. †" Sucre, November 15, 1896.

Rafael PeA ± a.

J. S. Machicado.

Manuel O. JofrA© (son) †"S. Secretary.

Abáll Iturraldeâ€" D. Secretary.

Trifân Meleà ¡ n†" D. Secretary.

BY TANTO, I enact it, so that it has and will comply as the law of the republic.

House of hobierno, in Sucre, at ten and six dA-as of November 1896.

SEVERE F. ALONSO.

L. Gutierrez,

Minister of Finance.