I do know that the Federal Senate has approved, and I, José Sarney, President, in the terms of art. 48, inciso XXVIII, of the Internal Rules, promulgated the following

R And S O L U Ç Ç

No. 6, DE 2009

Authorizes the State of São Paulo to hire external credit operation with the Inter-American Development Bank (BID), worth up to US$ 168,000,000.00 percent (percent and sixty-eight million U.S. dollars), with Union warranty.

The Federal Senate resolves:

Art. 1º It is the State of São Paulo authorized to hire external credit operation, with guarantee from the Union, with the Inter-American Development Bank (BID), in the value of up to US$ 168,000,000.00 percent (percent and sixty-eight million U.S. dollars).

Paragraph single. The advent proceeds from the credit operation referred to in the caput are intended for the partial financing of the São Paulo Metropolitan Transport Investment Program-Acquisition of Rodant Material and Systems for the Paulista Company of Trens Metropolitans-CPTM and Studies, Projects and Disappropriation for the Implantation of the Second Phase of Line 5-Lilac, from the São Paulo Metropolitan Company-Metrô, Stretch Largo 13-tea Klabin.

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

I-debtor: State of São Paulo;

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

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 168,000,000.00 (one hundred and sixty and eight million U.S. dollars);

V-deadline of disbursement: 4 (four) years and 6 (six) months, counted from the duration of the contract;

VI-amortization: after caress of 5 (five) years, counted from the duration of the contract; the depreciation will be in semi-annual and consecutive installments, of values as much as possible equal, paid on day 15 of the months of May and November of each year, winning the last, no later than 25 (twenty five) years after the signing of the contract;

VII-interest: required semester on the same repayment terms of amortization and calculated on the periodic debtor balance of the loan, at an annual rate for each quarter made up of the quarterly Libor to U.S. dollar, plus or minus a cost margin related to the loans that finance the loans modality Libor, plus the net value of any cost or profit generated by operations to mitigate the Libor fluctuations and more the margin for borrowing from the ordinary capital;

VIII-credit commission: to be set up periodically by the BID, up to 0.75% a.a. (seventy-five hundred percent a year) on the undisbursed balance of the loan, required together with the interest, going into effect 60 (sixty) days after the signing of the contract;

IX-expenses with general inspection and supervision: the value due in a given semester may not exceed 1% (a per cent) of the total loan divided by the number of semesters understood within the original period of disbursements.

§ 1º The dates of payments of the principal and the financial burden, as well as of the disbursements, may be changed depending on the date of signing of the loan agreement.

§ 2º Up to 30 (thirty) days beforehand to the first disbursement, the borrower should confirm the option by the interest rate, and it may be changed to the modality based on the cost of the ordinary capital of the BID.

Art. 3º It is the Union authorized to grant assurance to the State of São Paulo in the contracting of the external credit operation referred to in this Resolution.

Paragraph single. The exercise of the permit provided for in the caput is conditional on the State of São Paulo 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 sharing quotas of which they treat the arts. 157 and 159, all of the Federal Constitution, and other guarantees in law admitted, and the Federal Government may withhold the necessary resources for coverage of the honorable commitments, directly from the centralizing accounts of the state's fundraising or of the federal transfers.

Art. 4º The maximum term 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 goes into effect on the date of its publication.

Federal Senate, on May 13, 2009.

Senator Jose Sarney

President of the Federal Senate