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United States Senate Resolution No. 13, Of 16 July 2014

Original Language Title: Resolução do Senado Federal nº 13, de 16 de julho de 2014

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

RESOLUTION N ° 13, OF 2014

Authorizes the State of Amazonas to hire external credit operation, with Union warranty, with the Inter-American Development Bank (BID), at the total value of up to US$ 151,180,000.00 (one cent and fifty-one million, one hundred and eighty thousand U.S. dollars).

The Senate Federal resolve:

Art. 1º It is the State of Amazonas authorized to hire external credit operation, with guarantee of the Union, with the Inter-American Development Bank (BID), at the total value of up to US$ 151,180,000.00 (one hundred and one million, one million and eighty thousand U.S. dollars).

Single paragraph. The advinted resources of the external credit operation referred to in the caput are intended for the partial financing of the "Amazonas Education Development Acceleration Program (Padeam)".

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

I-debtor: State of Amazonas;

II-creditor: Inter-American Development Bank (BID);

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 151,180,000.00 (one hundred and fifty one million, one million and eighty thousand U.S. dollars);

V-modality: Flexible Financing Mechanism (FFF);

VI-deadline of disbursement: 5 (five) years, counted from the duration of the contract;

VII-amortization: upon payment of 40 (forty) semestral benefits, consecutive and, as far as possible, equal, winning the first 5 (five) years after the contract signing date, and the last, 25 (twenty-five) years after that date, pursuant to clause 1.05 of the loan agreement minuta;

VIII-interest: the borrower should pay interest on the daily debtor balances at a rate that will be determined from agreement with article 3.03 of the General Rules, as stipulated in clause 1.06 of the minuta of the loan agreement;

IX-credit commissions: the borrower must pay a credit commission in accordance with the provisions of Articles 3.04, 3.05 and 3.07 of the General Norms, as it has the clause 1.08 of the minuta of the loan agreement; in no event will it be able to exceed 0.75% to (seventy-five hundred per cent per cent per year), and will start to focus 60 (sixty) days after the signing of the contract;

X-expenses of inspection and supervision: except if the BID establishes otherwise, according to the provisions of the article 3.06 of the General Norms, the borrower will not be obliged to cover the Bank's spending for general inspection and supervision, as stipulated in clause 1.09 of the loan agreement minuta; in no hypothesis could be charged from the borrower to that title, in any given semester, more than 1% (one percent) of the value of the loan, divided by the number of semesters understood within the original maturity of disbursements.

§ 1º The payment dates of the principal, the financial burden and the expected disbursements may be changed depending on the date of signing of the contract of funding.

§ 2º It is permitted to the borrower, already duly authorized by this Resolution, ask the Bank for a currency conversion or an interest rate conversion at any time for the duration of the contract, in accordance with the provisions of Chapter V of the General Rules, pursuant to clause 1.10 of the minuta of the contract of loan.

Art. 3º It is the Union authorized to provide assurance to the State of Amazonas in the external credit operation referred to in this Resolution.

§ 1º The intended authorization in the caput is conditional on the State of the Amazonas to conclude contract with the Union for the granting of countermeasures, in the form of binding of the recipes provided for in the arts. 155, 157 and 159, in the terms of art. 167, § 4º, all of the Federal Constitution, and other guarantees in law admitted, and the Federal Government may withhold the necessary resources for coverage of the honoured commitments directly from the centralizing accounts of the state's fundraising Amazon or federal transfers.

§ 2º Previously to the signing of the contract, the Ministry of Finance will check and attest to the adimplence of the State of Amazonas as to the payments and benefits of accounts of which it treats art. 10 of the Federal Senate Resolution No. 48, of 2007, as well as the fulfilment of the preconditions to the first disbursement.

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

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

Federal Senate, on July 16, 2014

Senator RENAN CALHEIROS

President of the Federal Senate