Do I know that the Senate approved, and I, Renan Calheiros, President, pursuant to art. 48, paragraph XXVIII, the internal regulations, enact the following R E S O L U t I O N° 63, 2013 Authorizes the State of Rio de Janeiro to hire external credit operation, with guarantee of the Union with the International Bank for reconstruction and development (IBRD), for a total value of up to $ 48,000,000.00 (48 million u.s. dollars).
The Senate resolves: Art. first is the State of Rio de Janeiro authorized to hire external credit operation, with guarantee of the Union with the International Bank for reconstruction and development (IBRD), for a total value of up to $ 48,000,000.00 (48 million u.s. dollars).
Sole paragraph. The resources from the external credit operation referred to in the caput are intended to finance the partial "Progestão Program II".
Art. 2 the credit operation referred to in art. 1st should be conducted under the following conditions: (I)-debtor: State of Rio de Janeiro;
II-creditor: International Bank for reconstruction and development (IBRD);
III-guarantor: Federative Republic of Brazil;
IV-value: $ 48,000,000.00 (48 million u.s. dollars);
V-mode: loan with variable margin (variablespread loan);
VI-disbursement period: 5 (five) years from the period of the contract;
VII-depreciation: 41 (41) and consecutive semi-annual installments, the first of 40 (40) equal values, paid on 15 May and 15 November; It is estimated that the first win on May 15, 2018 and the last on May 15, 2038;
VIII-interest: required Semiannually, computed based on the six-month Libor for USD and plus a margin (spread), to be determined by the Bird every fiscal year;
IX-financing Commission: 0.25% (twenty-five cents per 100) on the value of the loan, to be paid up to 60 (60) days after the date of effectiveness of the agreement;
X-default interest: 0.50% p.a. (50 cents for 100 a year), plus the interest due and not yet paid; losers 30 (thirty) days after the due date for payment of interest will be the debtor is in arrears.
(1) the dates of payment of the principal, the financial charges and disbursements referred to can be changed depending on the date of signature of the loan contract.
§ 2 is allowed to the borrower, already authorized by this resolution, with the formal consent of the warrantor, observed the deadlines, amounts and other conditions stipulated in the loan contract, exercise the option of converting to a fixed interest rate, some or all of the debt balances subject to interest rate based on Libor, or any other option accepted by the Bank , including the hiring of ceiling or interest rate range, as well as the currency of disbursements or of all or part of the balance due, not borrower country currency or in a local currency that the Bank can mediate effectively.
(3) For the exercise of the option referred to in paragraph 2, shall be authorized to recover the costs incurred by the Bird on its realization.
Art. third is the Union authorized to grant guarantee to the State of Rio de Janeiro on external credit operation referred to in this resolution.
(1) the authorization referred to in the caput is conditioned to the State of Rio de Janeiro celebrates the Union contract for the provision of counter-guarantees in the form of linking revenue provided for in arts. 155, 157 and 159, pursuant to art. 167, paragraph 4, of the Constitution, and all other guarantees in law permitted the Federal Government to withhold the funds necessary to cover the commitments honored directly towards centralization of the accounts of the State of Rio de Janeiro or federal transfers.
(2) prior to the signing of the contract, the Ministry of Finance shall verify and certify the defaulting again in the State of Rio de Janeiro as to payments and benefits of accounts contemplated in art. 10 the Federal Senate resolution No. 48, 2007.
Art. 4 the maximum time limit for the exercise of this authorization shall not exceed 540 (540) days, counted from the validity of this resolution.
Art. 5 this decision shall enter into force on the date of its publication.
Senate, on 17 December 2013 Senator RENAN CALHEIROS President of Senate