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United States Senate Resolution No. 12, 06 June 2014

Original Language Title: Resolução do Senado Federal nº 12, de 06 de junho 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 NO. 12, OF 2014

Authorizes the Federative Republic of Brazil to hire external credit operation in the value of up to? 11,360,000.00 (eleven million, three hundred and sixty thousand euros), plus the equivalent of up to DES 2,000,000.00 (two million Special Rights of Saque), with the International Fund for the Development of Agriculture (Fida).

The Federal Senate resolves:

Art. 1º Is the Federative Republic of Brazil authorized to hire external credit operation in the amount of up to? 11,360,000.00 (eleven million, three hundred and sixty thousand euros), plus the amount equivalent to up to DES 2,000,000.00 (two million Special Drainage Rights), with the International Fund for Agriculture Development (Fida).

§ 1º The features of the credit operation are intended for the partial funding of the " Dom Helder Project Chamber ".

§ 2º Previously to the signing of the contract, the Ministry of Finance will check and attests to the fulfilment of the preconditions to the first disbursement, in particular regarding the final version of the Project Implementation Manual presented by the executor body.

Art. 2º The basic financial conditions of the credit operation referred to in art. 1º are as follows:

I-debtor: Federative Republic of Brazil;

II-creditor: International Fund for the Development of Agriculture (Fida);

III-total value: up to? 11,360,000.00 (eleven million, three hundred and sixty thousand euros), equivalent to US$ 15,401,888.00 (fifteen million, four hundred and one thousand, eight hundred and eighty and eight U.S. dollars), plus the value of up to DES 2,000,000.00 (two million Special Withdrawal Rights), equivalent to US$ 3,070,400.00 (three million, seventy one thousand and four hundred U.S. dollars), reaching a total value of approximately US$ 18,472,288.00 (eighteen million, four hundred and seventy and two thousand, two hundred and eighty-eight U.S. dollars), according to the exchange rates of December 4, 2013 and November 27 de2013, respectively;

IV-deadline of disbursement: 6 (six) years, counted as of the effective date of the contract;

V-rows of loan: one in Special Drainage Rights (DES- SDR), based on the SDR Libor / Euribor of 6 (six) months, composed of a basket of 4 (four) currencies (North American Dollar, Japanese Iene, Euro and Libra esterlina), plus spread variable defined by the International Bank for Reconstruction and Development (Bird), and another in Euros, based on the Euribor rate of 6 (six) months plus spread variable defined by Bird;

VI-amortization: on both lines, there will be 30 (thirty) half-yearly, consecutive and equal plots paid after 3 (three) years of deficiency, whose total period will add 18 (eighteen) years;

VII-interest: required semester on the same repayment terms of amortization, with the following interest rates to be adopted for each line of loan:

a) in Special Drainage Rights (DES- SDR): basket of currencies based on SDR Libor / Euribor of 6 (six) months and spread applied by the Bird for loans with variable rate whose maturation is between 15 (fifteen) and 18 (eighteen) years;

b) in Euros- Euribor of 6 (six) months plus spread variable defined by Bird;

VIII-payment currencies: the U.S. Dollar for the loan in DES and the Euro for the loan in Euro;

IX-credit commission: there is no;

X-expenses with inspection and general supervision: there is no.

Paragraph single. The payment dates of the principal, the financial charges and the expected disbursements will be able to be changed depending on the date of signing of the loan agreement.

Art. 3º The permission granted by this Resolution is to be exercised within 540 (five hundred and forty) days, counted from the date of its publication.

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

Federal Senate, on June 6, 2014

Senator RENAN CALHEIROS

President of the Federal Senate