United States Senate Resolution No. 14, October 16 2003

Original Language Title: Resolução do Senado Federal nº 14, de 16 de outubro de 2003

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I do know that the Federal Senate has approved, and I, José Sarney, President, in the terms of art. 48, inciso XXVIII, of the Rules of Procedure, promulgated the following

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No. 14, DE 2003

Authorizes the Federative Republic of Brazil to hire external credit operation at the total value of US$ 100,000,000.00 (one hundred million U.S. dollars), with the International Bank for Reconstruction and Development (Bird), for partially fund the Third Combat Project on Sexually Transmitted Diseases (DST) and AIDS.

The Federal Senate resolves:

Art. 1º It is the Federative Republic of Brazil authorized to hire external credit operation in the total value of US$ 100,000,000.00 (a hundred million U.S. dollars), of principal, with the International Bank for Reconstruction and Development (Bird).

Paragraph únicthe. Are the proceeds from this credit operation intended for the partial funding of the Third Project on Combating Sexually Transmitted Diseases (DST) and AIDS? AIDS III project.

Art. 2º The basic financial conditions of the credit operation are as follows:

I? debtor: Federative Republic of Brazil / Ministry of Health ;

II? creditor: International Bank for Reconstruction and Development (Bird) ;

III? total value: US$ 100,000,000.00 (one hundred million U.S. dollars) ;

IV? amortization: 20 (twenty) semi-annual and consecutive installments, due on May 15 and November 15 of each year, from November 15, 2008 until May 15, 2018 ;

V? interest: required semester, calculated based on the Libor semestral for dollars, plus a spread expressed as an annual percentage. The spread will consist of 0.75% (seventy and five hundredths per cent) added or decreased to the difference between Bird's average caption margin to cover loans in Single Currency Loan and Libor also for the period, ascertained during the 6 (six) months prior to their respective maturities ;

VI? compromise commission: 0.75% a.a. (seventy five hundredths per cent a year) on the non-disbursed balance of the funding, required semester, entering into force 60 (sixty) days after signing the Contract ;

VII? bank commission: 1% a.a. (one per cent a year) on the total loan amount, drawn from the loan account after the Contract's effectiveness ;

VIII? deadline: 174 (one hundred and seventy/four) months ;

IX? deficiency: 60 (sixty) months.

Single Paragraph. The dates of payment of the principal and financial charges may be changed depending on the date of signing of the Agreement.

Art. 3º The authorisation granted by this Resolution is to be exercised within 540 (five hundred and forty) days, counted from the date of its publication.

Art. 4º This Resolution shall enter into force on the date of its publication.

Federal Senate, on October 16, 2003

Senator Jose Sarney

President of the Federal Senate