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

RESOLUTION NO. 11, OF 2001

Authorizes the State of Bahia to hire credit operation with the Bank of Northeast Brazil S/A (BNB), with reshofing resources from the Inter-American Development Bank (BID), worth US$ 10,000,000.00 (ten million U.S. dollars), equivalent to R$ 21,847,000.00 (twenty one million, eight hundred and forty-seven thousand reais), at the exchange rate of April 30, 2001.

The Federal Senate resolves:

Art. 1º It's the State of Bahia authorized to hire credit operation together with the Bank of Northeast Brazil S/A (BNB), with reshoof resources of the Inter-American Development Bank (BID), amounting to US$ 10,000,000.00 (ten million U.S. dollars), equivalent to R$ 21,847,000.00 (twenty one million, eight hundred and forty and seven thousand reais), at the exchange rate of April 30, 2001.

Single paragraph. The proceeds from the credit operation referred to in this article are intended? if the financing of the implementation of infrastructure projects in the State of Bahia, 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, with repass features of the BID;

II? value: US$ 10,000,000.00 (ten million U.S. dollars), equivalent to R$ 21,847,000.00 (twenty one million, eight hundred and forty-seven thousand reais), by the rate of the commercial dollar of April 30, 2001;

III? release: exercise 2001;

IV? warranty: quotas of the Participation Fund of the States and the Federal District (FPE) and solidary and integral guarantee of the National Treasury;

V? interest rate: estimated at 11% a.a. (eleven per cent per year), which is equivalent to 0.8735% a.m. (eight thousand, seven hundred and thirty-five tenths of thousandths per cent to the month), charged on daily debtor balances of the financing, calculated by the bourgeois hamliable method, taking? if on the basis of the exact number of days of the month cording respondent and required on day 10 (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 line 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 letters of credit issued or paid charges;

VII? update index: north dollar? americano;

VIII? deadlines: amortization of the principal in two hundred and twenty-three 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 careure);

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 the date of its publication.

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

Federal Senate, on June 28, 2001

Senator JADER BARBALHO

President of the Federal Senate