I do know that the Federal Senate has approved, and I, José Sarney, 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 UNK UNK

No. 17, DE 2003

Authorizes the Prefecture of the Municipality of São Paulo (SP) to hire credit operation, with the National Economic and Social Development Bank-BNDES, worth R$ 493,807,400.00 (four hundred and ninety-three million, eight hundred and seven thousand and four hundred real ones), intended for the implementation of the second stage of the Implantation Program of the Integrated Urban Transport System of Passengers.

The Federal Senate resolves:

Art. 1º It is the Prefecture of the Municipality of São Paulo (SP) authorized to hire credit operation, with the National Bank for Economic and Social Development (BNDES), worth R$ 493,807,400.00 (four hundred and ninety and three million, eight hundred and seven thousand and real four hundred).

Single Paragraph. The features advinde of the credit operation referred to in the caput are intended for the financing of the implementation of 2ª Step of the Implantation Program of the Integrated Urban Transport System of Passengers.

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

I? creditor: National Bank for Economic and Social Development (BNDES) ;

II? value: R$ 493,807,400.00 (four hundred and ninety and three million, eight hundred and seven thousand and four-hundred royal ones) ;

III? source of the resources: BNDES common features ;

IV? interest: 3.5% a.a. (three integers and five tenths per cent a year) ;

V? amortization: in 138 (one hundred and thirty-eight) monthly and consecutive installments ;

VI? deficiency: 42 (forty-two) months ;

VII? release: in 36 (thirty-six) months ;

VIII? indexer: TJLP ; and

IX? guarantees: quotas-parts of the ICMS.

Art. 3º The authorisation granted by this Resolution shall be exercised within the maximum period of 270 (two hundred and seventy-seventh) days, from the date of its publication.

Art. 4º This Resolution comes into force on the date of its publication.

Federal Senate, on October 30

Senator Jose Sarney

President of the Federal Senate