United States Senate Resolution No. 4, 25 January 2006

Original Language Title: Resolução do Senado Federal nº 4, de 25 de janeiro de 2006

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Do I know that the Senate approved, and I, Renan Calheiros, President, pursuant to art. 48, paragraph XXVIII, the internal regulations, enact the following resolution No. 4 of 2006 Authorizes the Federal District to hire external credit operation, with guarantee of the Union with the International Bank for reconstruction and development-Ibrd, worth up to $ 57,643, 000.00 (57 million, us $ 643,000).
The Senate resolves: Art. first is the Federal District authorized to hire external credit operation, with guarantee of the Union with the International Bank for reconstruction and development-Ibrd, worth up to $ 57,643, 000.00 (57 million, us $ 643,000).
Sole paragraph. The resources from the external credit operation referred to in the caput are intended for partial financing of the program of environmental sanitation and Territorial Management of the Federal District.
Art. 2 the credit operation referred to in art. 1st should be conducted under the following conditions: (I)-debtor: Distrito Federal;
II-creditor: International Bank for reconstruction and development-Ibrd;
III-guarantor: Federative Republic of Brazil;
IV-value: up to $ 57,643, 000.00 (57 million, us $ 643,000);
V-disbursement period: until 31 March 2011;
VI-amortization: 24 (twenty four) consecutive semi-annual installments, winning the first in September 2010 15 and the last on 15 March 2022;
VII-interest: required semi-annually on March 15 and September 15 each year, calculated on the outstanding balance of the loan, the periodical a compound annual rate of? LIBOR? of 6 (six) months and margin (spread?) to be set on the date of signing of the loan and that terminates at the closure;
VIII-Commission of commitment: of 0.85% p.a. (85 hundredths by 100 per year) on balances non-disbursed, required semi-annually, at the same payment of interest dates, entering into force 60 (60) days after the signing of the contract until the 4th (fourth) year and 0.75% p.a. (75 cents for 100 year) onwards;
IX-initial rate: 1% (1%) on the total amount of the loan, to be debited to the account of the loan, when the effectiveness of the contract.
Sole paragraph. The dates of payment of the principal, the financial charges and disbursements can be changed depending on the date of signature of the loan contract.
Art. third is the Union authorized to grant the Federal District guarantee on credit operation referred to in this resolution.
Sole paragraph. The authorization referred to in the caput is conditioned that the Federal District celebrates Union contract for the provision of counter-guarantees in the form of a lien on revenues revenue sharing quotas provided for in arts. 157, 158 and 159, complemented by the own resources, in accordance with art. 167, paragraph 4, of the Constitution, and all other warranties accepted law, and the Federal Government withhold the funds necessary to cover the commitments honored, directly towards centralization of the accounts of the Federal District.
Art. 4 the authorization referred to in art. 1 is subject to: (I)-verification by Ministry of Finance of the fulfilment of the preconditions for the first disbursement, provided for in the draft loan agreement;
II-defaulting again check the Federal District by the Union and its controlled entities;
III-new birth certificate forwarding social regularity (CRP) the Federal District to the Ministry of finance.
Art. 5 the authorisation granted by this resolution must be exercised within 540 (540) days, counted of the date of its publication.
Art. 6. This resolution shall enter into force on the date of its publication.
Senate, on 25 January 2006.
Senator Renan Calheiros President of Senate

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