I get to know that the Federal Senate has approved, and I, Renan Calheiros, President, in the terms of the art. 48, inciso XXVIII, of the Internal Rules, promulgated the following

R E S O L U Ç Ã ° 39, DE 2006

Authorizes the State of the Pará to hire external credit operation, with guarantee from the Union, with the International Bank for Reconstruction and Development-Bird, worth up to US$ 60,000,000.00 (sixty millions of U.S. dollars).

The Federal Senate resolves:

Art. 1º It is the State of the Para authorized to hire external credit operation, with a guarantee of the Union, with the International Bank for Reconstruction and Development (Bird), worth up to US$ 60,000,000.00 (sixty million dollars Americans).

Single paragraph. The proceeds from the credit operation referred to in the caput are intended for the partial funding of the Pará Rural Program (Pará Integrated Rural Project).

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

I-debtor: State of Pará;

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

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 60,000,000.00 (sixty million U.S. dollars);

V-deadline of disbursement: until June 30, 2013;

VI-amortization: in 24 (twenty-four) semester and successive plots, owing to the first installment to be paid in the day May 15, 2012 and the last up to November 15, 2023, corresponding each of the 23 (twenty-three) first to 4.17% (four integers and seventeen) of the disbursed value and the last at 4.09% (four integers and nine tenths per cent per cent per cent per cent per cent per cent per cent per cent per cent per cent per cent per cent per cent one);

VII-interest: required semestally on day 15 of the months of May and November of each year, as of November 15, 2006, and calculated on the periodic debtor balance of the loan at an annual rate comprised of the semi-annual Libor to the U.S. dollar, increased spread to be defined by Bird to each fiscal year and fixed on the date of signing of the contract;

VIII-commission of commitment: up to 0.85% a.a. (eighty-five hundred percent a year), calculated on the undisbursed debtor balances, required together with the interest, entering into force 60 (sixty) days after the signing of the contract, up to the fourth year of its entry into force, and 0.75% a.a. (seventy-five hunduths per cent per year) onwards;

IX-commission in sight (front-end-fee): 1.0% (one percent) on the total loan amount, to be debited from the loan account on the date the contract enters into effectivity.

Paragraph single. The payment dates of the principal and the financial charges, as well as the 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 Pará in the contracting of the credit operation external referred to in this Resolution.

Single paragraph. The exercise of the authorisation provided for in the caput is conditional on the State of the Pará to conclude contract with the Union for the granting of countermeasures, in the form of linking the own revenues of which it treats the art. 155, and of the revenue apportionment quotas of which treat the arts. 157 and 159, all of the Federal Constitution, and other guarantees in law admitted, and the Federal Government may apply for the transfers of resources necessary for coverage of the honorable commitments, directly from the centralizing accounts of the state fundraising or the Federal Transfers.

Art. 4º The authorization granted by this Resolution should be exercised within the maximum period of 540 (five hundred and forty) days, counted from its duration.

Art. 5º This Resolution goes into effect on 1º January 2007.

Federal Senate, on November 8, 2006.

Senator Renan Calheiros

President of the Federal Senate