United States Senate Resolution No. 11, Of 15 February 2000

Original Language Title: Resolução do Senado Federal nº 11, de 15 de fevereiro de 2000

Read the untranslated law here: https://www.global-regulation.com/law/brazil/2895252/resoluo-do-senado-federal-n-11%252c--de-15-de-fevereiro-de-2000.html

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Do I know that the SENATE approved, and I, ANTÔNIO CARLOS MAGALHÃES, President, pursuant to art. 48, item 28 of the rules of procedure, enact as follows: resolution No. 11, 2000.
Authorizing the Union to hire external credit operation in the amount equivalent to as much as $250,000, 000.00 (us $250 million), from main, between the Federative Republic of Brazil and the Inter-American Development Bank IDB.
The SENATE resolves: Art. first is the Union authorized, pursuant to art. 52, paragraph V, of the Constitution, and in accordance with resolution No. 96 of 1989, re-established by resolution No. 17 of 1992, both the Federal Senate, hiring external credit operation in the amount equivalent to as much as $250,000, 000.00 (us $250 million) of main, between the Federative Republic of Brazil and the Inter-american Development Bank and IDB.
Sole paragraph. The resources referred to in this article shall be used in the financing of the program of improvement and expansion of the high school-Promed-1st phase.
Art. 2 the credit operation mentioned in art. 1 has the following financial features: I-intended value: US $250,000, 000.00 (us $250 million);
II-interest: required semi-annually, calculated on the basis of the cost of Bank funding for qualified loans taken by the IDB during the previous semester to their salaries, plus a reasonable margin, expressed as a percentage to cover administrative expenditure;
III-deadline for disbursement: three years;
IV-resources for general inspection and supervision: 1% (one percent), loan amount, paid in quarterly installments, as far as possible equal;
V-contract duration: from the date of your signature;
I saw credit Committee: required semi-annually on the same dates of payment of interest and calculated on the basis of the rate of 0.75% per year (75 cents per 100 a year) on the balance not paid the loan, calculated from 60 days of signing the contract;
VII-conditions of payment: the main): six consecutive payments in and as far as possible equal, winning-if the first six months after the date laid down for the final disbursement of the loan, and the last, no later than 20 October 2024 (considering the expected date of 20 October 1999 for the contract, estimated depreciation in 44 semi-annual installments with three years of grace period);
b) interest: semi-annually matured on 20 April and 20 October of each year, from the year 2000;
c) credit: semi-annually won on the date of payment of interest;
d) of resources for inspection and general supervision: the value of funding disbursed in quarterly installments as far as possible equal, joining the IDB account regardless of the borrower's request.
Art. 3 the authorisation granted by this resolution must be exercised within 540 days, counted of the date of your publication.
Art. 4 this resolution shall enter into force on the date of your publication.
Senate, on 15 February 2000.

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