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

R E S O L U UNK UNK No. 10, DE 2011

Authorizes the state of Rio de Janeiro to hire external credit operation, with Union warranty, with the International Bank for Reconstruction and Development (Bird), worth up to US$ 485,000,000.00 (four hundred and eighty-five million U.S. dollars).

The Federal Senate resolves:

Art. 1º It is the State of Rio de Janeiro authorized to hire external credit operation, with Union guarantee, with the International Bank for Reconstruction and Development (Bird), worth up to US$ 485,000,000.00 (four hundred and eighty five million of U.S. dollars).

Single Paragraph. The resources of this credit operation are intended to finance the "Sustainable Metropolitan Urban Housing and Development Program (Prohdums)".

Art. 2º The credit operation referred to in art. 1º should be carried out under the following conditions:

I-dever: State of Rio de Janeiro ;

II-credor: International Bank for Reconstruction and Development (Bird) ;

III-guarantor: Federative Republic of Brazil ;

IV-value: up to US$ 485,000,000.00 (four hundred and eighty-five million dollars Americans) ;

V-modality: variable margin ;

VI-deadline of disbursement: until December 31, 2012 ;

VII-amortization: 49 (forty-nine) semester plots, successive, paid on May 15 and in 15 of November each year, each of the 48 (forty-eight) initial installments will correspond to 2.04% (two integers and four hundredths per cent) of the total loan value and the latter will match 2.08% (two integers and eight hundredths per cent), winning the first on November 15, 2016 and the last on November 15, 2040 ;

VIII-interest: required semester on the same dates of payment of amortization and calculated on the periodic debtor balance of the loan, at a rate comprised of the interest rate Libor semiannual to U.S. dollar, plus a margin (spread) to be determined by the Bird ;

IX-interest arrears: 0.50% a.a. (fifty hundredths per year) add to the interest due and not yet paid in up to 30 (thirty) days after the expected date for your payment ;

X-commission in sight: 0.25% (twenty five hundredths per cent) on the value of the loan, to be detached on the date on which the contract enters into effectiveness.

§ 1º The dates of payment of the principal, financial charges and planned disbursements may be changed depending on the date of signing of the loan agreement.

§ 2º It is permitted to the borrower, already duly authorized by this Resolution, upon request formal to the creditor, exercise the option of changing the modality of the loan, of variable margin for fixed margin, I shall provide you with the use of the following financial instruments:

I-conversion of the interest rate applicable to the partial or total amount of the loan, from float for fixed and vice-versa;

II-change in the reference currency of the credit operation for the amount already disbursed and for the amount to be disbursed.

§ 3º For the exercise of the option referred to in § 2º, the collection of the costs incurred by the Bird in your accomplishment and a transaction commission.

Art. 3º It is the Union authorized to grant guarantee to the State of Rio de Janeiro in the contracting of the external credit operation referred to in this Resolution.

§ 1º The exercise of the authorization provided in the caput is conditioned on the State of the River of January celebrates contract with the Union for the concession of contragaranties, in the form of binding of the revenues of which they treat the arts. 155, 157 and 159, all of the Federal Constitution, and other guarantees in law admitted, and the Federal Government may apply for the transfers of resources required to cover the commitments honoured directly from the centralizing accounts of the state collection or federal transfers.

§ 2º Previously on the signing of the contract, the Ministry of Finance will verify and attest to adimation of the State of Rio de Janeiro as to the payments and accounts of accounts of which it treats art. 10 of Resolution 48, 2007, of the Federal Senate, as well as the fulfilment of the preconditions for the first disbursement.

Art. 4º The maximum period for the exercise of this authorisation shall be 540 (five hundred and forty) days, counted from the duration of this Resolution.

Art. 5º This Resolution shall enter into force on the date of its publication.

Federal Senate, on July 15, 2011

Senator JOSÉ SARNEY

President of the Federal Senate