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United States Senate Resolution No. 46, Of 22 December 2006

Original Language Title: Resolução do Senado Federal nº 46, de 22 de dezembro de 2006

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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. 46, DE 2006

Authorizes the Republic Federative of Brazil to hire external credit operation, in the total value of up to US$ 3,850,000.00 (three million, eight hundred and fifty thousand U.S. dollars), with the Inter-American Development Bank-BID.

The Federal Senate resolves:

Art. 1º It is the Federative Republic of Brazil authorized to hire external credit operation, worth the total value of up to US$ 3,850,000.00 (three million and eight hundred and fifty thousand U.S. dollars), with the Inter-American Development Bank-BID.

Single Paragraph. The proceeds of this credit operation are intended for the partial funding of the Institutional Capacity Building Program for Management in Regulation.

Art. 2º The basic financial conditions of the credit operation are as follows:

I-dever: Federative Republic of Brazil ;

II-creditor: Inter-American Development Bank-BID ;

III-total value: up to US$ 3,850,000.00 (three million, eight-hundred and fifty thousand dollars Americans) ;

IV-amortization: 32 (thirty-two) semi-annual, consecutive plots and, as far as possible, equal, due to each March 15 and September 15, starting at 6 (six) months after the stipulated time limit for disbursements, counted from the date of subscription of the loan, and finalizing at the 20 (twenty) years also counted from the date of signing of the contract ;

V-interest: required semester in the days March 15 and September of each year, starting 6 (six) months of the contract signing date, and calculated on the periodic debtor balance of the loan, at an annual rate composed of the quarterly Libor for U.S. dollar, increased from spread to be defined by the BID ;

VI-commission of engagement: up to 0.75% a.a. (seventy five hundredths per cent a year) on the undisbursed debtor balance of the operation, required together with interest, entering into force 60 (sixty) days after signing the contract ;

VII-resources for inspection and general supervision: up to 1.0% (one per cent) of the value of the funding, divided by the number of semesters understood within the original period of disbursement.

Single Paragraph. The dates of payment of the principal and financial charges as well as of the disbursements, provided for in the contractual minuta, may be changed depending on the date of their signature.

Art. 3º The authorisation granted by this Resolution should be exercised within 540 (five hundred and forty) days, counted from the date of its publication.

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

Federal Senate, on December 22, 2006.

Senator Renan Calheiros

President of the Federal Senate