Do I know that the Senate approved, and I, Jose Sarney, President, pursuant to art. 48, paragraph XXVIII, the internal regulations, enact the following R E S O L U t I O N º 10, 2011 Authorizes the State of Rio de Janeiro to hire external credit operation, with guarantee of the Union with the International Bank for reconstruction and development (IBRD), worth up to $ 485,000,000.00 (485 million u.s. dollars).
The Senate resolves: Art. first is the State of Rio de Janeiro authorized to hire external credit operation, with guarantee of the Union with the International Bank for reconstruction and development (IBRD), worth up to $ 485,000,000.00 (485 million u.s. dollars).
Sole paragraph. The features of credit operation are intended to finance the "Program of housing and urban development Sustainable Metropolitan (Prohdums)".
Art. 2 the credit operation referred to in art. 1st should be conducted under the following conditions: (I)-debtor: State of Rio de Janeiro;
II-creditor: International Bank for reconstruction and development (IBRD);
III-guarantor: Federative Republic of Brazil;
IV-value: up to $ 485,000,000.00 (485 million u.s. dollars);
V-mode: variable margin;
VI-disbursement period: until 31 December 2012;
VII-depreciation: 49 (49) semi-annual installments, successive, paid on 15 May and 15 November of each year, each of the 48 (48) initial installments match 2.04% (two integers and four hundredths for 100) of the total value of the loan and the last will be 2.08% (two integers and eight hundredths for 100) by winning the first on 15 of November 2016 and the last on 15 November 2040;
VIII-interest: required semi-annually on the same payment dates and amortization calculated on the outstanding balance of the loan, the journal a composite rate for the six-month Libor interest rate for us dollar, plus a margin (spread) to be determined by the Bird;
IX-interest: 0.50% p.a. (50 cents for 100 year) plus the interest due and not yet paid up to 30 (thirty) days after the due date for your payment;
X-Commission: 0.25% (twenty-five cents per 100) on the value of the loan, to be debited on the date on which the contract enters into effectiveness.
(1) the dates of payment of the principal, the financial charges and disbursements referred to can be changed depending on the date of signature of the loan contract.
§ 2 is allowed to the borrower, already duly authorized by this resolution, a formal request to the creditor to exercise the option of amending the loan mode, variable to fixed margin margin, given the use of the following financial instruments: (I) conversion of the interest rate applicable to partial or total amount of the loan, floating for fixed and vice versa;
II-amendment of the reference currency of credit operation for the sum already paid and the amount payable.
(3) For the exercise of the option referred to in paragraph 2, shall be authorized to recover the costs incurred by the Bird on their achievement and a transaction Commission.
Art. third is the Union authorized to grant guarantee to the State of Rio de Janeiro in the hiring of external credit operation referred to in this resolution.
(1) the authorization referred to in the caput is conditioned to the State of Rio de Janeiro celebrates the Union contract for the provision of counter-guarantees in the form of binding that deal with the arts. 155, 157 and 159, all of the Federal Constitution, and other guarantees in law permitted the Federal Government to require transfers of resources to cover the commitments honored directly towards centralization of the accounts of the State or federal transfers.
(2) prior to the signing of the contract, the Ministry of Finance shall verify and certify the defaulting again in the State of Rio de Janeiro as to payments and benefits of accounts contemplated in art. 10 of resolution No. 48, 2007, of the Senate, as well as the fulfilment of the preconditions to the first disbursement.
Art. 4 the maximum time limit for the exercise of this authorization shall not exceed 540 (540) days, counted from the validity of this resolution.
Art. 5 this decision shall enter into force on the date of its publication.
Senate, on 15 July 2011 Senator JOSÉ SARNEY President of Senate