United States Senate Resolution No. 50, Of 27 June 2000

Original Language Title: Resolução do Senado Federal nº 50, de 27 de junho de 2000

Read the untranslated law here: https://www.global-regulation.com/law/brazil/2895421/resoluo-do-senado-federal-n-50%252c--de-27-de-junho-de-2000.html

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Do I know that the SENATE approved, and I, ANTONIO CARLOS Magalhaes, President, pursuant to art. 48, item 28 of the rules of procedure, enact the following resolution No. 50, of 2000.
Authorizes the Federative Republic of Brazil to hire external credit operation, worth up to 17,800,000 special drawing rights, equivalent to approximately $ 25,000, 000.00 (us $ 25,000,000), main, between the Federative Republic of Brazil and the International Fund for agricultural development. IFAD, for the partial financing of the Sustainable development project for Agrarian reform settlements in the semi-arid Northeast region.
The SENATE resolves: Art. first is the Federative Republic of Brazil shall be authorized, in accordance with resolution No. 96 of 1989, re-established by resolution No. 17 of 1992, both the Federal Senate, hiring external credit operation, worth up to 17,800,000 special drawing rights, equivalent to approximately $ 25,000, 000.00 (us $ 25,000,000), main, between the Federative Republic of Brazil and the International Fund for agricultural development. IFAD.
Sole paragraph. The operation of credit authorized in this article is intended to finance part of the sustainable development project for Agrarian reform settlements in the semi-arid Northeast region.
Art. 2 the operation of external credit authorized will have the following characteristics: (I)? borrower: the Federative Republic of Brazil (Ministry of agricultural development and National Institute of colonization and agrarian reform? INCRA);
II. lender: International Fund for agriculture Desenvolveimento? IFAD;
III. Value: up to 17,800,000 special drawing rights, equivalent to approximately $ 25,000, 000.00 (us $ 25,000,000), principal;
IV. purpose:, prarcialmente, began in the Sustainable development project for Agrarian reform settlements in the semi-arid Northeast region;
V? period: approximately seventeen years;
I SAW? grace period: approximately two years and six months;
VII. interest: a fee annually defined by the IFAD, with validity for the period from 1 January to 31 December of each year [5.84% p.a. (five integers and 84 hundredths by 100 per year) for the year 2000] on the outstanding balance of principal from the date of each disbursement;
VIII. deadline for disbursement: up to 30 June 2005;
IX. from the principal: in 30 semi-annual installments, consecutively, the first and second 10000 worth of special drawing rights, the twenty-eight other 635,000 worth of special drawing rights, payable on March 1 and September 1 of each year, the first on September 1, 2002, and the last on March 1, 2017;
X? of interest: semi-annually, on March 1 and September 1 of each year.
Art. 3 the authorisation granted by this resolution must be exercised within 540 days, counted of the date of its publication.
Art. 4 this resolution shall enter into force on the date of its publication.
Senate, on 27 June 2000 Senator ANTONIO CARLOS MAGALHÃES PRESIDENT

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