United States Senate Resolution No. 38, May 04 2000

Original Language Title: Resolução do Senado Federal nº 38, de 04 de maio de 2000

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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. 38 of 2000.
Authorizes the State of Santa Catarina to perform credit operation aimed at refinancing the bonds issued for payment of judicial requisitions were presented in third power value of .12 581,670,336 R$ (581 million, 670,000, 336 reais and twelve cents).
The SENATE resolves: Art. 1 Santa Catarina State is authorized, in accordance with resolution No. 78, 1998, the Senate, to perform credit operation aimed at refinancing the bonds issued for payment of judicial requisitions were presented in third power value of .12 581,670,336 R$ (581 million, 670,000, 336 reais and twelve cents).
Art. 2 the credit operation referred to in art. 1 shall be performed under the following conditions: (I)-the value of the debt being assumed by the Union will be R$ .12 581,670,336 (581 million, 670,000, 336 reais and twelve cents), the prices of 19 April 2000, that could be refinanced at up to 120 months;
II-the updated value of the debt will be effective on the date of their assumption, built into the refinancing agreement signed between the Union and the State on 31 August 1998, under the terms of law No. 9496, of 11 September 1997, governing the terms and conditions of that instrument, except as to the term, which will be of 120 months;
III-80% (80%) of debt to be assumed will be incorporated into the plot (P), referred to in the Fourth Clause of the contract of refinancing, and 20% (20%) will be the portion of special depreciation, being settled on thirty-one monthly and successive installments, calculated by the system SAC, winning the first on 31 May 2000, with charges equal to the Selic rate without compliance with the commitment of Real net revenue of the State.
§ 1 will only be liable to assumption and refinancing the bonds that were in the possession of third parties until 31 December 1998.
paragraph 2 shall not be considered to be in possession of third parties, for the purposes of assumption and refinancing, the securities held by the Fund's own State.
Art. 3 the validity of the contract of Assumption and refinancing of this Resolution is subject to final pronouncement of Justice under art. 12, paragraph 3, of resolution No. 78, 1998, Federal Senate.
Sole paragraph. The final statement that this article cannot arise from agreement of the parties, except in cases of legal guardianship and anticipation to exclude the payment of funds of State collapsing, costs and fees.
Art. 4 the authorisation granted by this resolution must be exercised within a maximum period of 270 days, counted of the date of publication.
Art. 5 this decision shall enter into force on the date of its publication.
Senate, on 4 May 2000.
Senator Antônio Carlos Magalhães President

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