I make it known that the Federal Senate has approved, and I, Garibaldi Alves Filho, President, in the terms of art. 48, inciso XXVIII, of the Rules of Procedure, promulgated the following

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No. 44, DE 2008

Authorizes the state of Acre to hire external credit operation, with a guarantee from the Union, with the International Bank for Reconstruction and Development (Bird), worth up to US$ 120,000,000.00 percent (one hundred and twenty million U.S. dollars).

The Federal Senate resolves:

Art. 1º It is the State of the Acre authorized to hire external credit operation, with warranty of the Union, with the International Bank for Reconstruction and Development (Bird), worth up to US$ 120,000,000.00 percent (a hundred and twenty million U.S. dollars).

§ 1º The resources of this credit operation are intended for partial funding of the?Program of Social Inclusion and Sustainable Development of the State of the Acre-Proacre?.

§ 2º They are provided the conversion of the interest rate, from float to fixed, or vice versa, applicable to the partial or total amount of the loan, and the change in the reference currency of the credit operation, both for the amount already disbursed and for the amount to be disbursed, and the exercise of those options will involve charging charges incurred by the Bird in its realization and of a transaction commission ranging from 0.125% (one hundred and twenty-five thousandths per cent) to 0.25% (twenty-five hundredths per cent) over the affected values.

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

I-dever: State of the Acre ;

II-credor: International Bank for Reconstruction and Development (Bird) ;

III-guarantor: Federative Republic of Brazil ;

IV-value: up to US$ 120,000,000.00 percent (one hundred and twenty million U.S. dollars) ;

V-deadline of disbursement: until March 31, 2015 ;

VI-deficiency: 84 (eighty-four) months ;

VII-amortization: in 42 (forty-two) semester plots, successive, and whenever possible, equal, paid on the days April 15 and October 15 of each year, winning the first on April 15, 2016 and the last on October 15, 2036, being each of the 41 (forty and one) first installments corresponding to 2.38% (two integers and thirty and eight hundredths per cent) of the total value of the loan and the last to 2.42% (two integers and forty-two hundredths per cent) ;

VIII-interest: required semester on the same dates of payment of amortization and calculated on the periodic debtor balance of the loan, at a rate composed of the Libor semi-annual to US dollar, plus a fixed margin to be determined by the Bird at each fiscal year and fixed on the date of signing of the contract ;

IX-commission in sight: 0.25% (twenty-five hundredths per cent) on the value of the loan, to be detached on the date on which the contract enters into effect ;

X-interest arrears: 0.50% a.a. (fifty hundredths per cent a year) add to the interest due and not yet paid, characterized 30 (thirty) days after the expected date for payment of interest.

Single Paragraph. The payment dates of the principal and financial charges as well as of disbursements may be changed depending on the date of signing of the loan agreement.

Art. 3º It is the Union authorized to grant guarantee to the State of Acre in the hiring of the operation of the external credit referred to in this

Single Paragraph. The exercise of the authorization provided for in the caput is conditional upon the State of the Acre to contract with the Union for the concession of contragaranties, in the form of binding of the own revenue of which it treats art. 155 and the revenue apportionment quotas of which they treat the arts. 157 and 159, all of the Federal Constitution, and other guarantees in accepted law, and the Federal Government may apply for the transfers of resources required to cover the honoured commitments, directly from the centralizing accounts of the state collection or federal transfers.

Art. 4º The maximum period for the exercise of this authorization is 540 (five hundred and forty) days, counted from the duration of this Resolution.

Art. 5º This Resolution comes into force on the date of its publication.

Federal Senate, on December 18, 2008.

Senator Garibaldi Alves Filho

President of the Federal Senate