Federal Senate Resolution No. 44 Of July 2, 2002

Original Language Title: Resolução do Senado Federal nº 44, de 02 de julho de 2002

Read the untranslated law here: http://legis.senado.gov.br/legislacao/ListaTextoIntegral.action?id=222347&norma=234977

I know that the Senate approved, and I, Ramez Tebet, President, pursuant to art. 48, item XXVIII, of the Bylaws, promulgate the following
résolu TION No. 44, 2002
Authorizes the Union to hire foreign credit operation with Dresdner Bank AG in the amount of US $ 2,533,000.00 (two million, five hundred and thirty-three thousand US dollars US), main, for the partial financing of Management Modernization Program and Re-equipment of the Hospital Network.
The Senate decides:
Art. 1 It is the Union authorized to hire foreign credit operation with Dresdner Bank AG in the amount of US $ 2,533,000.00 (two million, five hundred and thirty-three thousand US dollars), the main.
Sole paragraph. The proceeds from the authorization referred to in the heading of this article will be used to partially finance the Management Modernization Program and Re-equipment of the Hospital Network.
Art. 2 The credit transaction referred to in art. 1 consists of the following conditions and characteristics:
I - debtor: Federative Republic of Brazil / Ministry of Health;
II - Lender: Dresdner Bank AG (Frankfurt);
III - value: US $ 2,533,000.00 (two million, five hundred and thirty-three thousand US dollars);
IV - Time: sixty (60) months;
V - Interest: 1% per year (one per cent per annum) over Libor six (6) months for US dollars, levied on each disbursement;
VI - commitment fee: 0.5% pa (five per cent per annum) on undisbursed balance;
VII - processing fee: 0.5% (five percent) of the value of the Contract;
VIII - General expenses: limited to $ 25,000.00 (twenty-five thousand US dollars);
IX - default interest: 1% pa (one percent per year) above the contractual interest rate;
X - Payment terms:
a) of principal: in ten (10) equal, consecutive, semi-annual installments, the first six (6) months after the weighted average date of delivery;
B) interest: every six months past due, payable on July 15 and January 15 of each year, whichever occurs first;
C) the commitment fee: every six months overdue;
D) processing fee: within thirty (30) days after the contract signature date;
E) overhead costs: through proof.
Sole paragraph. The payment dates of principal and financial charges may be changed depending on the contract signing date.
Art. 3 The authorization granted by this resolution shall be exercised within 540 (five hundred and forty) days from the date of its publication.
Art. 4. This Resolution shall enter into force on the date of its publication.
Senate, on July 2, 2002
Senator RAMEZ Tebet
President of the Senate