United States Senate Resolution No. 9, 11 April 2002

Original Language Title: Resolução do Senado Federal nº 9, de 11 de abril de 2002

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Resolution nº 9, 2002 do I know that the Senate approved, and I, Ramez Tebet, President, pursuant to art. 48, item 28 of the rules of procedure, enact the following Authorizing the Union to provide warranty on external credit operation to be hired by the State of Pernambuco, with the Inter-American Development Bank IDB, in the amount of $ 90,000, 000.00 (90 million u.s. dollars), as well as authorizing the State of Pernambuco to hire such a credit operation, the resources to finance the programme of support for the sustainable development of Zona da Mata de Pernambuco.
The Senate resolves: Art. first is the Union authorized, pursuant to resolution No. 96 of 1989, the Senate, to provide security in operation of external credit to be hired by the State of Pernambuco, with the Inter-American Development Bank IDB, and resources to the financing of the programme of support for sustainable development of Zona da Mata de Pernambuco-Promata.
Art. second is the State of Pernambuco, in accordance with resolution No. 43 of 2001, Federal Senate, hiring external credit operation with the Inter-American Development Bank IDB referred to in art. 1 Art. 3 external credit operation referred to in art. 1 has the following characteristics: I-value: $ 90,000, 000.00 (90 million u.s. dollars), equivalent to R$ 208,836,000.00 (208 million, 836,000 dollars);
II-the State contribution: $ 60,000, 000.00 (60 million u.s. dollars), equivalent to R$ 139,224,000.00 (139 million, 224,000 dollars);
III-guarantor: Federative Republic of Brazil;
IV-main: 40 (40) consecutive semi-annual installments;
V-grace period: 4 (four) years from the date of signing of the contract;
I saw interest: required semi-annually, calculated on daily balances of the loan at an annual rate for each semester determined by the cost of borrowing Qualified Multimonetários taken by the IDB during the previous semester, plus a differential that the IDB shall determine from time to time in accordance with its policy of interest rate;
VII. Credit Committee: 0.75% p.a. (75 cents per 100 a year) on the balance due is not paid on the loan;
VIII-monitoring and Inspection Commission: 1% (1%) on the total amount of the loan;
IX-purpose: financing of the programme of support for sustainable development of Zona da Mata-Promata.
Art. 4 the hiring of external credit operation referred to in art. First, as well as the provision of collateral for the Union should commit themselves within 540 (540) days, counted of the date of publication of this resolution.
Art. 5 this decision shall enter into force on the date of its publication.
Senate, on 11 April 2002 Senator RAMEZ TEBET President of Senate

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