United States Senate Resolution No. 14, August 28 2001

Original Language Title: Resolução do Senado Federal nº 14, de 28 de agosto de 2001

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I get to know that the Federal Senate has approved, and I, Edison Lobao, President, Interino, in the terms of art. 48, item 28, of the Internal Rules, promulgated the following

RESOLUTION

NO. 14, OF 2001

Authorizes the State of Ceará to hire credit operation with the Bank of Northeast Brazil S/A? BNB, with repass resources from the Inter-American Development Bank? BID, amounting to US$ 7,000,000.00 (seven million U.S. dollars), equivalent to R$ 13,663,300.00 (thirteen million, six hundred and sixty-three thousand and three hundred reais), at the exchange rate of January 18, 2001.

The Federal Senate resolves:

Art. 1º Is the State of Ceará authorized to hire credit operation with the Bank of Northeast Brazil S/A? BNB, with repass resources from the Inter-American Development Bank? BID, amounting to US$ 7,000,000.00 (seven million U.S. dollars), equivalent to R$ 13,663,300.00 (thirteen million, six hundred and sixty-three thousand and three hundred reais), at the exchange rate of January 18, 2001.

Single paragraph. Do the proceeds from the credit operation referred to in this article are intended for the financing of the implementation of basic sanitation projects in the State of Ceará, within the framework of the Tourism Development Programme in the Northeast? Prodetur / NE.

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

I? creditor: Bank of the Northeast of Brazil S/A? BNB, with BID's repass capabilities;

II? value: US$ 7,000,000.00 (seven million U.S. dollars), equivalent to R$ 13,663,300.00 (thirteen million, six hundred and sixty-three thousand real three hundred reais), at the exchange rate of January 18, 2001;

III? release: exercises of 2001 and 2002;

IV? warranty: FPE quotas and solidary and full guarantee of the National Treasury;

V? interest rate: estimated at 11% a.a. (eleven per centils a year), which is equivalent to 0.8735% a.m. (eight thousand, seven hundred and thirty-five tenths of thousandths per cent per month), charged on daily debtor balances of the financing, calculated by the hamburger method, taking up the exact number of days of the corresponding month and required in the day ten of each month;

VI? other charges:

a) credit commission: the title of ressaration, to the BNB, of the credit commission paid to the BID;

b) resources for inspection and supervision: up to 1% (one percent) of the value of the funding;

c) repass commission: in consonance with the Loan Agreement No. 841/OC? BR, concluded between the BNB and the BID;

d) exchange portfolio commission: 0.5% (five tenths per cent) on the value of the issued letters of credit or paid charges;

VII? update index: U.S. dollar;

VIII? deadlines: amortization of the principal in two hundred and ten monthly installments, starting in the month following the last disbursement (deficiency until the release of the last instalment, with monthly payment of interest in the carmentia);

IX? maturity: December 31, 2019.

Single paragraph. The payment dates of the principal and financial burden may be changed depending on the date of signing of the Contract.

Art. 3º The authorization granted by this Resolution is to be exercised within the maximum period of two hundred and seventy days, counted from its publication.

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

Federal Senate, on August 28, 2001

Senator EDISON LOBÃO

President of the Federal Senate,

Interino