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. 27, OF 2014

Authorizes the Municipality of São Luís-MA to hire external credit operation, with a guarantee from the Union, with the Inter-American Development Bank (BID), worth up to US$ 13,590,000.00 (thirteen million, five hundred and ninety thousand U.S. dollars).

The Federal Senate resolves:

Art. 1º It is the Municipality of São Luís-MA authorized to hire external credit operation, with warranty of the Union, with the Inter-American Development Bank (BID), worth up to US$ 13,590,000.00 (thirteen million, five hundred and ninety thousand U.S. dollars).

Paragraph single. The features of this credit operation are intended for the partial financing of the "Program of Revitalization of the Historic Center of São Luís".

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

I-debtor: Municipality of São Luís- MA;

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

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 13,590,000.00 (thirteen million, five-hundred and ninety thousand U.S. dollars);

V-modality: flexible financing mechanism;

V-modality: Unimonetary mechanism with interest rate based on Libor; (Redaction given by Resolution # 43, from 2014)

VI-disbursement: in 4 (four) years, counted from the duration of the contract;

VII-amortization: in 40 (forty) semestral, consecutive and, in the measure of the possible, equal, winning the first 5 (five) years after the contract signing date and the last up to 25 (twenty five) years after this date;

VIII-interest: the borrower should pay interest on the daily debtor balances of the loan at a rate that will be determined in accordance with article 3.04 of the General Norms, as stipulated in clause 2.02 of the minuta of the loan agreement; while the loan has not been the subject of any conversion, the borrower will pay interest on the daily debtor balances at an interest rate based on Libor more or less bank catchment cost and additionally the applicable margin for loans of the ordinary capital, in this case the interest will be at an annual rate for each quarter determined by the bank at a date of determination of the rate of interest based on Libor for each quarter;

IX-conversions: the borrower will be able to request the bank interest rate conversion at any time during the term of the contract, in accordance with the provisions of clauses 3.06, 3.07, 3.08 and 3.09 of the minuta of the loan agreement;

X-credit commissions: the borrower must pay credit commission in accordance with the provisions of articles 3.02 and 3.03 of the Normal General, as per the clause 2.04 of the minuta of the loan agreement; the commission in no case may exceed 0.75% a.a. (seventy-five hundrths per cent per year) and will start to focus 60 (sixty) days after the signing of the contract;

XI-expense of inspection and supervision: except if the bank establishes otherwise, the borrower will not be obliged to cover the bank's spending for inspection and supervision title general; in no hypothesis, may be charged to this title, in any given semester, more than 1% (one percent) of the value of the loan, divided by the number of semesters understood in the original maturity of disbursements.

Art. 3º It is the Union authorized to grant assurance to the Municipality of São Luís-MA in the contracting of the operation of external credit referred to in this Resolution.

Single paragraph. The exercise of the authorization provided for in the caput is conditional on that, prior to the signing of the contractual instruments, the contract of contragarantia is formalized and is verified, by the Ministry of Finance, the addedness of the Prefecture of They are Louis with the Union and its controlled entities.

Art. 4º The maximum term for the exercise of this authorisation is 540 (five hundred and forty) days, counted as of the duration of this Resolution. (Term extended by 540 days by Resolution No. 2, from 2016)

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

Federal Senate, on September 3, 2014

Senator RENAN CALHEIROS

President of the Federal Senate