United States Senate Resolution No. 32, July 10 2013

Original Language Title: Resolução do Senado Federal nº 32, de 10 de julho de 2013

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I do know that the Federal Senate has approved, and I, Renan Calheiros, 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 32, DE 2013

Authorizes the State of Goiás to hire external credit operation, with Union guarantee, with the Inter-American Development Bank (BID), worth up to US$ 11,577,000.00 (eleven million, five hundred and seventy-seven thousand dollars Americans).

The Federal Senate resolves:

Art. 1º It is the State of Goiás authorized to hire external credit operation, with Union guarantee, with the Inter-American Development Bank (BID), worth up to US$ 11,577,000.00 (eleven million, five hundred and seventy-seven thousand dollars Americans).

Single Paragraph. The proceeds of this credit operation are intended to partially fund the "Modernization Program of the Fazendary Administration of the State of Goiás (Professional)".

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

I-dever: State of Goiás ;

II-credor: Inter-American Development Bank (BID) ;

III-guarantor: Federative Republic of Brazil ;

IV-value: up to US$ 11,577,000.00 (eleven million, five hundred and seventy-seven thousand U.S. dollars) ;

V-modality: Unimonetary Mechanism loan with interest rate based on Libor;

VI-deadline of disbursement: up to 5 (five) years, counted from the duration of the contract ;

VII-amortization of the debtor balance: semi-annual and consecutive plots, as far as possible equal, paid on April 15 and on October 15 of each year, winning the first in up to 4 (four) years, and the latter, by up to 20 (twenty) years, both counted from the date of the signing of the contract ;

VIII-interest applicable: required semester on the same payment dates as the amortization and calculated on the periodic debtor balance of the loan, at an annual fee for each quarter determined by the BID and composed of the rate of interest Libor quarterly to U.S. dollar, plus or minus a cost margin related to BID loans that fund Unimonetary Mechanism's loans with Libor-based interest rate and more margin for loans of the ordinary capital ;

IX-credit commission: to be established periodically by the Bank, calculated on the undisbursed balance of the financing and required together with interest, entering into force 60 (sixty) days after the signing of the contract, where, under no circumstances, it may exceed the percentage of 0.75% a.a. (seventy and five hundredths per cent a year) ;

X-expenses with inspection and general supervision: by decision of current policy, the Bank will not charge amount to meet expenses with inspection and general supervision ; as per periodic review of its policies, the Bank shall notify the borrower a value due in a given semester, which may not be more than 1% (one per cent) of the funding, divided by the number of semesters understood within the original disbursement deadline.

§ 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, with the formal consent of the guarantor, observed the deadlines and minimum amounts required in the loan contract, to exercise the conversion option for a fee fixed interest, part or all of the debtor balances subject to the interest rate based on Libor, and a new conversion of part or all of the debtor balances on the loan calculated at a fixed interest rate for the interest rate based on Libor.

§ 3º For the exercise of the option referred to in § 2º, the collection of the costs incurred by the BID in its realization shall be authorized.

Art. 3º It is the Union authorized to grant guarantee to the State of Goiás in the procurement of the external credit operation referred to in this Resolution.

Single Paragraph. The exercise of the authorization provided for in the caput is conditional on that, prior to the signing of the contractual instruments, whether verified by the Ministry of Finance the following requirements:

I-the substantial fulfillment of the preconditions to the first disbursement ;

II-the formalization of the contract of contragarantia ;

III-the adimation of the State of Goiás together with the Union.

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 10, 2013.

Senator RENAN CALHEIROS

President of the Federal Senate