November 5 law
FERROCARRILEN.â€ "A railway from La Paz to Desaguadero is built on behalf of the State.
REPAsBLICA CONSTITUTIONAL PRESIDENT
By How much, the national congress has sanctioned the following law:
THE NATIONAL CONGRESS
ArtA-cull 1.Â ° â€ " The executive will command, on behalf of the state, a broadband railway in the city From La Paz to the Desaguadero A³ to the point that was better suited to the Peruvian border.
Art. 2.Â ° â€ " For the performance of the work, the executive is authorized to issue public bonds up to the sum of two hundred thousand pounds, under the responsibility of the nation and with guarantee-especially for the service of interests and amortisation, of the yields of the customs of La Paz.
Art. 3.Â ° â€ " These bonds will be cut from 10 and 20 £ and will earn the interest of 7% a year and 2% of amortisation, for whose service will be entered the necessary sum in the national budgets of each jestition.
Art. 4.Â ° â€ " The type A³ value-value of the bonds, will be fixed by a special law.
Art. 5.Â ° â€ " In the 1895 jestione only would be placed in the middle of the total value of the bonds.
Art. 6.Â ° â€ " The executive is also authorized to accept the proposals of the firm that could be made, in replacement of the issuance of bonds decreed by this law, subject to the conditions of interest, amortisation and garantA-to preset special.
Art. 7.Â ° â€ " It is also authorized to grant the construction of the mentioned railway, for account A³ company, assuring for the term of 20 years, the guarantee-to 6% on the invested capital and the other bases fixed by the laws of the case, provided that authorized proposals for the effect may be presented, within six months of the date of this law.
This guarantee-to be repayable by the construction company as soon as the revenues exceed 6%.
Art. 8.Â ° â€ " A section of the national body of injenieros will proceed to immediately verify the technical studies for the construction of the railway.
Art. 9.Â ° â€ "The article 3.A of the law of 18 October 1893 is repealed, subject to the other terms of that law and to the present, the concession granted to the" Peruvian Corporation " by supreme resolution of June 22, 1892.
Art. 10.â€ " The executive will regulate this law, authorize it to adopt all the measures conducive to its more prompt realization.
Communicate to the executive branch for constitutional purposes.
National Congress session room â€ " Sucre, October 31, 1894.
Manuel O. JofrA©, hijoâ€ "S. Secretary.
Abáll Iturraldeâ€" D. Secretary.
L. Trigoâ€ " D. Secretary.
Therefore, I enact it, so that it is and will comply with the law of the republic.
Given in Sucre, November 5, 1894.
The minister of government,