Loan-It Authorizes The Executive Branch To Contract A Loan Of Two Million Pounds Sterling: Destination To Be Given To This Loan.

Original Language Title: EMPRESTITO.- SE AUTORIZA AL PODER EJECUTIVO PARA CONTRATAR UN EMPRÉSTITO DE DOS MILLONES DE LIBRAS ESTERLINAS: DESTINO QUE DEBE DARSE A ESTE EMPRÉSTITO.

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.

LEI OF 5 DECEMBER

EMPRA%STITO †"The Executive Branch is authorized to hire a two-million-pound undertaking: destination to be given to this undertaking.

ANICETO ARCE

CONSTITUTIONAL PRESIDENT OF THE REPASBLICA.

As soon as the national congress has sanctioned the following i read.

THE NATIONAL CONGRESS

DECCRETA:

ArtA-ass 1.A ° †"The executive branch is authorized to contract abroad an undertaking up to the sum of two million pounds sterling, fixing the conditions of type or interest, and mortgaging all the income of the state and in particular the customs yields.

ArtA-article 2.A ° to € "The funds from that undertaking are destina ¡ n:†" 1. A ° To the conversion of the foreign debt recognized by the state, according to the pact of truce signed with the Republic of Chile in April 4, 1884 :†"2. ° To the other equally external crimes that the nation reconozca:â€" 3. A ° To the cancellation of the loans in force in the National and PotosA banks: and 4.A° To the service of the qualified internal debt and that it is recognized by a lei.

ArtA-ass 3A ° †"E1 balance left over from the undertaking, will be invested in works The legislative authorization of November 4, 1884 is repealed.

ArtA-ass 4.A ° to € "

Communicate to the executive branch for constitutional purposes.

Session†" in Sucre, 4 days of the month of December 1888 years.

J. M. DEL CARPIO.†" A. Moreno.†"Severo F. Alonsoâ€" S. Secretario.†"Manuel Othon Jofré (son) â€" D. Secretario.†"Adolfo Silesâ€" D. Secretary.

Therefore: I enact it so that it has and will comply as I read from the public.

Palace of Government. †" Sucre, 5 days of the month of December of one thousand eight hundred and eighty eight years.

ANICETO ARCE. †"The minister of finance and industria.⠀" H. Gutierrez.