Advanced Search

United States Senate Resolution No. 39, December 19 2001

Original Language Title: Resolução do Senado Federal nº 39, de 19 de dezembro de 2001

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

I do know that the Federal Senate has approved, and I, Ramez Tebet, President, in the terms of art. 48, item 28, of the Rules of Procedure, promulgated the following

R E S O L U UNK UNK UNK UNK

No. 39, DE 2001

Authorizes the Union to hire external credit operation, amounting to up to EUR 98,600,000 (ninety-eight million and seishundred thousand euros), of principal, between the Federative Republic of Brazil and the International Bank for Reconstruction and Development (Bird).

The Federal Senate resolves:

Art. 1º It is the Union authorized, in the terms of art. 52, inciso V, of the Federal Constitution, and pursuant to Resolution No. 96, 1989, reinstated by Resolution No. 17, 1992, both of the Federal Senate, to hire credit operation amounting to up to EUR 98,600,000 (ninety-eight million and seishundred thousand euros), of principal, between the Federative Republic of Brazil and the International Bank for Reconstruction and Development (Bird), intended for partial funding of the Fortaleza Metropolitan Trem Project (Metrofor).

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

I? debtor: Federative Republic of Brazil ;

II? intended value: EUR 98,600,000 (ninety and eight million and six hundred thousand euros) ;

III? interest: at a variable rate equal to the Libor semiannual, added 0.75% a.a. (seventy and five hundredths per cent a year) ;

IV? deficiency: 66 (sixty-six) months ;

V? payment of the principal: in 5 (five) annual, equal and consecutive plots, winning the first 66 (sixty six) months after disbursement ;

VI? contract duration: as of the date of its signature ;

VII? front-end-fee: up to 1% (one per cent) on the loan amount ;

VIII? commitment charge: 0.85% a.a. (eighty-five hundredths per cent a year) on the undisbursed balance in the first 4 (four) years, after the signing of the Contract, reduced to 0.75% a.a. (seventy-five hundredths per cent a year) starting from the fifth year.

Art. 3º The authorisation granted by this Resolution is to be exercised within 540 (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 December 19, 2001

Senator Ramez Tebet

President of the Federal Senate