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 ° 14, OF 2014

Authorizes the Federal District to hire external credit operation, with guarantee from the Federative Republic of Brazil, together with the Inter-American Development Bank (BID), worth up to US$ 50,000,000.00 (fifty million U.S. dollars).

The Federal Senate resolves:

Art. 1º It is the Federal District authorized to hire external credit operation, with guarantee from the Federative Republic of Brazil, together with the Inter-American Development Bank (BID), worth up to US$ 50,000,000.00 (fifty million dollars Americans).

Single paragraph. The proceeds from the credit operation referred to in the caput are intended for the partial financing of the "Federal District Economic Development Program (Procities)".

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

I-debtor: Federal District;

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

III-guarantor: Federative Republic of Brazil;

IV-value: up to US$ 50,000,000.00 (fifty million U.S. dollars);

V-modality: Unimonetary mechanism with interest rate based on Libor;

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

VII-amortization: in 40 (forty) semestral plots, successive and of values, as much as possible, equal, by winning the first within 5 (five) years, and the last, at the end of 25 (twenty-five) years, both counted from the contract signing date;

VIII-interest: required semester and, while no conversion has been effective, calculated on the daily debtor balances at an annual rate for each quarter determined by the BID and comprised of the interest rate Libor quarterly to U.S. dollar, more or less a margin related to the borrowing cost of the BID that finances its loans, plus the margin (spread) for loans from the capital ordinary;

IX-credit commission: up to 0.75% a.a. (seventy-five hundrths per cent a year) on the undisbursed balance of the financing, effective from 60 (sixty) days of the contract signing;

X-expenses with inspection and general supervision: in a given semester, the due value may not be greater than 1% (one percent) of the funding, divided by the number of semesters understood within the original period of disbursements.

§ 1º The payment dates of the principal, the financial burden and the expected disbursements will be able to change depending on the date of signing of the loan agreement.

§ 2º It is allowed to the debtor, already duly authorized by this Resolution, with the formal consent of the guarantor, observed the minimum time limits and amounts required in the loan agreement, exercise the conversion option for a fixed interest rate of part or of the totality of debtor balances subject to the interest rate based on Libor or a new conversion of part or totality of debtor balances based on the fixed interest rate for a Libor-based interest rate, as well as exercising the currency conversion option of the disbursement or the whole or part of the debtor balance in non-borrower country currency or in local currency that the Bank may intermediate efficiently.

§ 3º For the exercise of the option referred to in § 2º, it is authorised to collection of the costs incurred by the BID in its realization, as well as the repass to the debtor of any gains arising from the conversion.

Art. 3º It is the Federative Republic of Brazil authorized to provide assurance to the Federal District in the contracting of the external credit operation referred to in this Resolution.

§ 1º The exercise of the authorization provided for in the caput is conditional on that the Federal District will conclude contract with the Union for the granting of countermeasures, in the form of linkage of the recipes of which they treat the arts. 155 a 159, pursuant to § 4 ° of the art. 167, all from the Federal Constitution, and from other guarantees in admitted law, and the Federal Government may apply for the transfers of resources necessary for coverage of the commitments honored directly from the centralizing accounts of the fundraising of the Federal District or of federal transfers.

§ 2º Previously to the signing of the contract, the Ministry of Finance will check and attest to the Federal District's addedness as to the payments and benefits of accounts of which it treats the 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