United States Senate Resolution No. 37, May 04 2000

Original Language Title: Resolução do Senado Federal nº 37, de 04 de maio de 2000

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I do know that the FEDERAL SENATE has approved, and I, ANTONIO CARLOS MAGALHÃES, PRESIDENT, in the terms of art. 48, item 28 of the Internal Rules, promulgated the following

RESOLUTION NO. 37, OF 2000.

Authorizes the Municipality of Guarulhos, State of São Paulo, to hire debt refinancing operation, substantiated in the Confession Contract, Assumption, Consolidation and Refinancing of Securities issued for payment of judicial precatories in power of third parties, worth R$ 31.716.322, to 89 (thirty one million, seven hundred and sixteen, three hundred and twenty and Two reais and eighty-nine cents).

THE FEDERAL SENATE

resolves:

Art. 1º It is the Municipality of Guarulhos, State of São Paulo, authorized to hire operation of debt refinancing, substantiated in the Confession Contract, Assumption, Consolidation and Refinancing of Securities issued for payment of judicial precatories in power of third parties, worth R$ 31.716.322, to 89 (thirty one million, seven hundred and sixteen thousand, three hundred and twenty-two reais and eighty-nine cents), to be concluded with the Union, to the amparo of the Interim Measure No. 2.022-16 of April 20, 2000, and of Resolution No. 78 of 1998 of the Federal Senate.

Art. 2º The operation referred to in the art. 1º will have the following financial conditions:

I-value of the debt to be assumed by the Union: R$ 31.716.322, to 89 (thirty one million, seven hundred and sixteen, three hundred and twenty-two reais and eighty-nine cents), at prices of April 19, 2000;

II-term: up to one hundred and twenty months;

III-the updated value of the debt will be, on the date of its effective assumption, incorporated into the Confession Contract, Assumption, Consolidation and Refinement of Debts, to be firmed up between the Union and the Municipality of Guarulhos, SP.

Single paragraph. Only they will be liable to assumption and refinance the securities that were found to be in power from third parties until December 31, 1998, excluded the securities held by the liquidity fund of the Municipality itself.

Art. 3º The exercise of the authorization granted by this Resolution is conditional on the final pronouncement of the Justice, on the validity of the securities to be refunded, within twenty-four months, counted from the date of signing of the Contract.

Art. 4º The effectiveness of the Assumption and Refunding Agreement of which it treats this Resolution is conditional on the final pronouncement of Justice in the terms of art. 12, § 3º-A, of Resolution No. 78, of 1998, of the Federal Senate.

Single paragraph. The final pronouncement of which it treats this article will not be able to proceed in agreement between the parties.

Art. 5º The permission granted by this Resolution is to be exercised within the maximum period of two hundred and seventy days, counted from the date of its publication.

Art. 6º This Resolution comes into effect on the date of its publication.

FEDERAL SENATE, on May 4, 2000.

Senator Antonio Carlos Magalhães

PRESIDENT