United States Senate Resolution No. 33, May 04 2000

Original Language Title: Resolução do Senado Federal nº 33, de 04 de maio de 2000

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I do know that the FEDERAL SENATE has approved, AND EU, ANTONIO CARLOS MAGALHÃES, PRESIDENT, in the terms of art. 48, item 28, of the Rules of Procedure, promulgated the following

RESOLUTION # 33, DE 2000

Authorizes the Union and the State of Paraíba to conclude Debt Refinancing Contract corresponding to R$ 108.932.281, to 63 (one hundred and eight million, nine hundred and thirty-two thousand, two hundred and eighty-one real and sixty-three cents), on the debt recognition of the State of Paraíba with the Bank of North East Brazil S.A. -BNB.

The FEDERAL SENATE solves:

Art. 1º Are the Union and the State of Paraíba authorized to enter Debt Refunding Contract corresponding to R$ 108.932.281, to 63 (one hundred and eight million, nine hundred and thirty-two thousand, two hundred and eighty-one real and sixty-three cents), on the debt recognition of the State of Paraíba with the Bank of North East Brazil S.A. -BNB.

Art. 2º The credit operation mentioned in art. 1º presents the following characteristics:

I-value of debt: R$ 108.932.281, to 63 (one hundred and eight million, nine hundred and thirty-two thousand, two hundred and eighty and one real and sixty-three cents), position on April 19, 2000, originating from the debits consisting of the companies EIT, Limoeiro and Queiróz Galvain ;

II-of the refinancing: the value assumed by the Union will be refunded to the State by incorporation into the debtor balance.

a) 80% (eighty per cent) in the instalment (P), described in the First Paragraph of the Fourth clause of the STN/Coafi Contract No. 13/98, March 31, 1998 ;

b) 20% (twenty per cent) in the plot (veg), described in the Paragraph First of the Fourth clause of the STN/Coafi Contract No. 13/98 of March 31, 1998, which will be paid by the State in the form that has the Twenty-fifth Clause of the Contract STN/Coafi No. 13/98 of March 31, 1998 ;

III-conditioner of effectiveness:

a) celebration of the Confession Agreement or the Assumption of Debt between the State and the BNB ;

b) celebration of Debt Assumption between the Union and the BNB.

Art. 3º The authorisation granted by this Resolution should be exercised within 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 May 4, 2000.

Senator Antonio Carlos Magalhães

President